Why Go Green?
FACT: Energy efficiency ranks #1 in consumer green building priorities.
By most estimates, the 130 million buildings in the US produce half of the carbon monoxide and 38% of the total energy consumption for the United States. Our country is the single largest contributor to greenhouse gases. The CO2 is produced by mechanical equipment designed by American engineers and installed by American contractors and mechanical professionals. You might say we've created our own challenge.
Over the lifetime of a building, the operational costs associated with the mechanical systems will be far greater than the cost to design and build the structure they serve. The fact is, these systems are not only environmentally irresponsible but fiscally irresponsible.
The good news is that American ingenuity can make a big difference. We now have energy efficient HVAC and hot water systems, solar panels that work, rainwater collection and greywater recycling systems. More important than the energy and cost savings that come from using 'green' systems, however, is the improved performance of people who work in green buildings.
Energy Efficient "Green Mortgages" Get a Boost Thanks to Housing Act andFHA's 203(k) Loan
Many lenders now offer a great mortgage that can be used for 'green' improvements such as better insulation or windows and high-efficiency HVAC systems. These improvements may be especially desirable with foreclosed homes.
The FHA 203(k) is a streamlined rehabilitation loan. This versatile product, while not designed just for energy purposes, can be used to finance up to $35,000 in energy upgrades to a property that is at least one year old. Virtually any energy feature qualifies, including environmental retrofits such as radon mitigation systems.
To learn more about the 203(k) streamlined rehabilitation loan and its many uses, visit the following website: http://www.hud.gov/offices/hsg/sfh/203k/203kmenu.cfm