Not sure how to make my long question short...
I am in a situation where I am trying to purchase a lot that recently came up for sale in a great little area for a VERY reasonable price and specifically to have a local company build an affordable green home. As to be expected lenders nowadays are hesitant to do any sort of lending and certainly need a good chunk of money backing it and I only have a fraction of that amount or a VA backed loan for the final product. Furthermore in these tough times I would love to support a local builder I strongly believe in that deserves a fighting chance to survive through the housing crisis. They build affordable, modular, LEED certified homes typically designed for in-fill lots in the city.
If I am going to commit my life and income to a home I can only imagine doing it the right/healthy way which for me means green purposeful building. Any suggestions for lending institutions or special programs to back or assist with green building?
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Green building financing
Hi Rae, I've put your post on the front door as I too am quite interested in hearing if anyone has any updates on what's happening out there in green building financing these days.
If you do a search on this site for "financing" you'll find quite a bit of information on innovative solar financing such as that offered by Sun Run, mortgages from New Resource Bank, and Insurance such as that from Fireman's Fund. Certain cities such as Berkeley and San Francisco have also started providing incentives. When I was able to pay closer attention a couple of years ago, green was definitely starting to play a role in ability to get financing, rates, appraisals, tax credits, etc.
With the credit markets as tight as they are lately, however, I'm not sure what's happening out there as specifically relates to green financing. Hoping someone else can provide some perspective.
- maxmsf