By Kenneth R. Harney
July 26, 2009
An unprecedented push by the U.S. government to widen rewards for energy-conscious homeowners is underway. An example: FHA loans offering 5% larger mortgages to buyers who plan on making renovations.
Reporting from Washington — You’re probably familiar with some of the federal government’s incentives for home energy efficiency — heftier tax credits for solar panels, solar water heaters, geothermal heat pumps, heavy-duty insulation, windows, air conditioning and the like.
But these are just the beginning of an unprecedented push by the government that’s getting underway for energy conservation in housing.
At the Department of Housing and Urban Development, a new generation of mortgages designed to encourage energy efficiency is being rolled out, starting with Federal Housing Administration loans that offer 5% larger mortgages to people who plan on making energy-efficiency improvements.
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