Saving Money With Green Mortgages

If you read this personal finance blog at all, you know that on occasion I like to focus on green investing and on ways that you can make or save money in ways that are more environmentally friendly. Today, I want to mention a way you can save on your mortgage with the help of green home loan products.

Green mortgages are rising in popularity as more people recognize that that energy-efficient homes can save money in utility costs as well as help the planet. And mortgage lenders, who know that today’s big Fed rate cut won’t be the be and end all for the economy, want to offer incentives. And one way the “big guys” at Bank of America, JP Morgan Chase and Citigroup are doing it is by offering reduced closing fees for energy-efficient homes.

This can even work on your second mortgage. Some lenders are offering green mortgages and incentives for adding improvements that make your home more energy efficient. It’s just another creative way for mortgage lenders to try and make the whole lending thing work again.

The good news is that it could save you money as well.