Can energy efficiency reduce your mortgage?

Whether your goal in becoming more energy efficient is to leave behind less of a negative impact on the environment or to enjoy considerably cheaper utility bills, there's no doubt that going green has some major upsides. To help make this option even more attractive to homeowners, many realtors – over 125 across the country – appraise eco-friendly houses higher than standard properties. But a mortgage lender is looking to go one step further by offering refunds on home loans to energy efficient properties.

The Hartford Courant, a Connecticut news publication, reports that Genworth Mortgage Insurance is looking to incorporate estimations for green upgrades and energy-savings into its loan underwriting standards, giving a 10 percent refund on mortgage premiums to homeowners that have established energy efficient households. The lending company already uses a similar practice in Canada, where a hypothetical house with an $8,250 monthly mortgage payment would yield an $825 refund if it meets certain power consumption criteria.

This kind of practice could drastically bolster the United States housing market, which is already stifling under affordability problems caused by a surge in prices and mortgage rates. 

While it may be a long time before this initiative takes root in the U.S., homeowners throughout Maryland, Virginia and Washington, D.C., can already go green thanks to high-quality residential window tinting. By outfitting your home's windows with solar window film, you can reduce the amount of heat transferred into a house by the sun, helping to cut down on the amount of power your HVAC system needs to generate, bringing down your utility costs as well. Contact R and J Tinting for all your energy saving window film needs.