Green Mortgages Las Vegas NV

This page provides useful content and local businesses that can help with your search for Green Mortgages. You will find helpful, informative articles about Green Mortgages, including "Green Mortgages Offer New Growth". You will also find local businesses that provide the products or services that you are looking for. Please scroll down to find the local resources in Las Vegas, NV that will answer all of your questions about Green Mortgages.

Mountain America Credit Union
(702) 251-5750
4810 W Desert Inn Rd
Las Vegas, NV
 
Home Funding Corporation
(702) 258-0887
4550 West Oakey Boulevard
Las Vegas, NV
 
Money First Financial Services Inc
(702) 368-3800
6175 Spring Mountain Rd Ste 2B
Las Vegas, NV
 
Equity One Inc
(702) 227-3489
2801 South Valley View Blvd.
Las Vegas, NV
 
Wells Fargo Bank Na
(702) 765-3377
3300 W Sahara Ave Fl 4
Las Vegas, NV
 
Cna Capital Corp
(702) 948-7670
3821 W Charleston Blvd Ste 110
Las Vegas, NV
 
Preferred Mortgage Inc
(702) 818-1700
2820 W Charleston Blvd Ste B14
Las Vegas, NV
 
Rcfc Inc
(702) 822-2540
4550 W Oakey Blvd Ste 102
Las Vegas, NV
 
Amera Corporation
(702) 320-8700
3233 W Charleston Blvd Ste 101
Las Vegas, NV
 
Us Bank Na
(702) 386-0215
2300 W Sahara Ave # 350
Las Vegas, NV
 

Green Mortgages Offer New Growth

If you could save up to $200 a month in energy bills for 30 years, would you be willing to borrow an extra $5,000 for a home loan upfront? Probably yes.

That’s the power of energy-efficient mortgages, or “green” mortgages. Now, legislators, lenders, brokers and consumers are pushing for their wider use. Advocates say green mortgages can help solve several of the nation’s broader problems, including the energy crisis, the mortgage implosion and the slowing economy. 

“These programs can offer significant solutions,” said Norm Ferrier, owner of Security Mortgage Corporation, which specializes in green loans, “because homeowners are desperately seeking ways to lower their energy costs.”

Installing energy efficient windows
Green mortgages save money and energy over time by improving energy-efficiency Green mortgages allow home buyers to add as much as an additional 15 percent of the sale price into the loan, for upgrades such as energy-efficient windows, water heaters, or solar panels. The savings in energy bills offset the higher monthly mortgage payments and create more savings in the long run.

Since the 1970s, major lenders backed by Fannie, Freddie, and the VA, have financed green mortgages, which are currently promoted under the Energy Star program. But these products languished during years of cheap oil and easy, sub-prime loans. Lenders and brokers avoided green loans because they took longer to close, but yielded no extra profits.

Now, as the energy crunch and mortgage crises converge, lawmakers and lenders regard green mortgages as a solution to both. Residential and commercial investors also see new opportunities in green loans. “We are an emerging market at a time when the traditional market has imploded,” said Jeffrey Cole, founder of myenergyloan.com. “The secondary market is embracing green mortgages.”

Legislators are rushing to support green mortgages. The Housing and Economic Recovery Act of 2008, signed by President Bush last month, includes a provision to streamline and promote green mortgages. The bill authorizes federal agencies to identify obstacles to existing products, recommend changes and educate the public.

Another federal bill would provide incentives to lenders offering lower interest rates on green residential and commercial mortgages. The Green Resources for Energy Efficient Neighborhoods Act, introduced by U.S. Rep Ed Perlmutter (CO-07), passed the House Financial Services Committee in June and now awaits a House hearing.

A sign of green appeal across industries, the bill was broadly supported by 30 national organizations, including lenders, real estate agents, developers, housing groups, environmentalists and scientists. “We are at a crossroads with our housing markets and our energy consumption,” said Leslie Oliver, communications and policy director for Rep. Perlmutter. “There was incentive and buy-in from organizations across th...

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Opinion Corner
People in Nevada shared their opinions about Home Mortgage
Do you own or rent a home?
Own: 70%
Rent: 30%
Other: 0%
The recent credit crisis seems to have affected everyone. How has it affected you?
I have lost my home: 0%
I have had to downgrade my home: 14%
I am living paycheck to paycheck: 14%
I have eliminated some of my expenses in order to keep my home: 71%
It has not affected me: 0%
Other: 0%
What is the value of your house in relation to your outstanding mortgage?
I am in the red: 42%
I have some equity in my home: 57%
I own my home outright: 0%
I have no idea: 0%
Other: 0%
Have you been able to take advantage of the lower interest rates and refinance your mortgage?
Yes: 33%
I have tried but have not been successful: 33%
No: 33%
Have your savings/retirement funds been affected?
No, haven’t touched my savings/retirement: 66%
Yes, they were slightly affected: 33%
Yes, they were significantly affected/drained: 0%
Source: Survey.com