Consumer demand for high-efficiency homes is rising. But the value of “green” isn’t always factored in by appraisers, and is typically ignored by mortgage lenders.
A Senate bill supported by a broad coalition of business, real estate, energy and environmental groups seeks to put energy cost savings into the underwriting equation. The bill which is being called the SAVE Act (for Sensible Accounting to Value Energy), the legislation could make energy-efficient features more affordable to average-income home buyers by allowing them to qualify for a larger loan amount. he legislation would require Fannie Mae, Freddie Mac and the Federal Housing Administration to incorporate energy efficiency into their underwriting policies.
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