New legislation could support federal loan lending for green homes

Fri, 08/02/2013 - 17:20

Government officials and homeowners alike are looking for new ways to save money by decreasing energy costs. Go Erie reported that a new act titled, "Sensible Accounting of Value Energy Act," is supporting larger home loans for properties that are outfitted with green technologies. 
The S.A.V.E. Act would require lenders like Fannie Mae, Freddie Mac and the Federal Housing Administration, which encompasses about 90 percent of the home mortgage to their underwriting, to provide affordable lending options for valued green energy technologies. According to the news source, the mortgage lenders and appraisers do not necessarily consider the value of the energy-efficiency technologies. 
Including this act in lending agreements is expected to help promote the adoptions of energy-efficient technologies like solar panels, geothermal systems and radiant floor heating. The combination of these modern technologies allows a homeowner to drastically reduce his or her energy costs. 
The news source reported that the typical U.S. homeowner pays about $2,500 in home energy bills annually. By installing a radiant floor heating system in a house, an individual is able to use less energy than what would be consumed in a traditional heater unit that deploys warmth with baseboards, vents or radiators. 
Energy prices are only continuing to increase, which is why it is important to support potential homebuyers who are looking for more energy-efficient properties. More sustainable homes will decrease the overall energy use of a community, decrease strain on the market and improve the finances of many Americans.
A radiant floor heating system not only increases the operational efficiency of a home, but it also boosts the comfort someone will feel in the space. Potential homebuyers who are searching the market for the right property should consider purchasing a home with eco-friendly qualities.