“Green” mortgages can help homeowners rein in energy costs and realize long-term savings. They are available for larger loan amounts that cover energy improvements such as geothermal heating and cooling, solar panels, and tankless water heaters, although recapturing the savings from the energy improvements may take several years. To apply for a green mortgage, homeowners need to have an energy rating report prepared by a trained examiner who will give the home a Home Energy Rating System (HERS) index score.
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