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How to Leverage Green Solutions to Drive Mortgage Origination

How to lenders can leverage green energy solutions-green house inside piggy bankGreen energy incentives are financial rebates or rewards from the U.S. government or a local utility company designed to encourage property owners to incorporate energy-efficient products, water-conserving, renewable products, materials, or measures into their home or commercial building renovation projects or use them in new construction. The incentives take various forms. There are tax credits, rebates, tax deductions, grants, subsidy programs, and more. Examples of eligible upgrades include solar, geothermal, and fuel cells, certain types of insulation and roofing materials, and exterior windows with specific energy efficiency ratings.  

Community mortgage lenders can take advantage of this program and provide support to their borrowers interested in building or renovating a property with sustainability in mind. If your community invests in sustainable, eco-friendly construction projects, it will increase overall property value and growth, leading to an increase in future lending opportunities. As the old saying goes, a rising tide raises all ships. Unfortunately, it can be confusing for borrowers to determine what incentives are available for their property. Frequently, the amount of research required to determine what is eligible deters many borrowers from participating in a “green” incentive program.

As a lender, you can significantly streamline this process for your borrowers by offering them a quick and clear summary detailing all available incentive programs along with details of who to contact for more information about a particular program. The borrower would be able to quickly and easily identify the dollar amount of the incentive they would be eligible to receive. These borrowers would then be ready to jump into the mortgage application process immediately. This program is an expansion to our Mortgage Settlement Solutions.

By offering our Green Solutions benefit, you nurture deep-rooted relationships with your community and increase the property’s overall value in case of a foreclosure. These incentives can also help pay off the borrower’s loan quicker, resulting in a healthier and less risky portfolio. Your borrower will see benefits beyond the cash incentive by making upgrades they may not have been able to have afforded before, not to mention decreased energy consumption and lower utility bills.

To learn more about how you can offer this benefit to your borrowers, and drive mortgage originations, click the blue button below to schedule a time to talk. 

Let's Talk About Using our Green Solutions Program to Increase Mortgage Loan  Originations

   

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