Green Home Loans to finance energy-efficient home improvements
PrimeLending has rolled out Green Home Loans, a new mortgage program designed to finance energy-efficient home upgrades.
The new loan program addresses the increasing focus on sustainability among American homeowners. PrimeLending cited a 2023 study by Thumbtack, revealing that 71% of homeowners are prioritizing sustainability for their home projects this year, though 32% find sustainable, energy-efficient home upgrades too expensive.
The company said Green Home Loans aims to alleviate these financial concerns, offering a solution for homeowners interested in environmentally friendly improvements. The program includes various loan options, including FHA, VA, USDA, conventional, and renovation loans.
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It allows borrowers to finance green improvements, such as energy-efficient windows and doors, solar panels, insulation, and energy-saving HVAC systems.
“Green Home Loans are a huge win for PrimeLending customers by helping to remove financial obstacles to making energy-efficient upgrades,” PrimeLending chief production officer Tim Elkins said in a media release. “We are committed to offering mortgage solutions that align with our customers’ goals, such as saving money, increasing property value, and protecting the planet.”
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