‘Green’ Homes Reap Breaks on Financing

Fannie Mae is providing mortgage help for consumers who want to go “green” in their home search.

Green homes are environmentally friendly and slash the amount of resources needed to maintain a home. According to Fannie Mae, such homes are more affordable because of reduced operating and maintenance costs.

Through its Built Green program, Fannie Mae is providing incentives to builders and buyers of energy-, water- and other resource-efficient homes, beginning in Colorado. Participating lenders will consider the estimated savings in electrical and water bills to help qualify home loan applicants.

Fannie Mae also has put up $100 million nationwide for environmental initiatives that link to housing financing.

About $20 million has been set aside for environmental initiatives.