Firm "fills void" in the mortgage market by increasing incentives
Digital mortgage exchange platform MAXEX, in collaboration with JP Morgan, has launched two new sustainable lending programs for green energy home improvements.
The programs, MAXEX Sustainable and MAXEX Sustainable Express, are the latest additions to MAXEX’s Environmental, Social and Corporate Governance (ESG) business line launched in December. The firm said it aims to address the lack of low-cost financing options for green energy home improvements such as solar panels and geothermal units.
Read more: MAXEX, J.P. Morgan partner to “level the playing field” for minority-owned lenders
“MAXEX’s new sustainable lending programs expand financing flexibility by providing pricing incentives and enabling borrowers to finance green energy improvements into their mortgage balance at the time of purchase or refinance,” the company said in a press release. “This allows homeowners to amortize the cost of these green energy home improvements over a 30-year term at a below-market interest rate.”
The sustainable programs offer loan amounts ranging from $400,000 to $3,000,000 and are now available to MAXEX’s network of over 170 banks, regional banks, credit unions and independent mortgage lenders.
“MAXEX is passionate about leveling the playing field for Main Street banks by using our rapidly-growing digital exchange to deliver low-cost capital that drives social impact,” said Tom Pearce, chairman and CEO of MAXEX. “These ESG programs fill a significant void in the mortgage market by increasing incentives for green energy improvements.”
