Are you a potential homebuyer facing high monthly utility bills? Are you thinking of buying or building a home, but want to be sure the ongoing operating costs are as low as possible? Are you concerned about the impact of energy use on the environment and about conserving our natural resources?

If you answer yes to any of these questions, then Boulder Financial green mortgage products help maximize efficiency in the areas of energy, water, and indoor air quality to create the most comfort and value in a home.

Boulder Financial has several mortgage products designed to provide incentives for homebuyers to purchase more efficient homes. Green mortgages offer zero down payment and additional flexibility in the qualifying process.

Green Mortgages are zero down payment mortgages that add projected energy and water savings to income for the purpose of qualifying for the mortgage, thus giving a consumer greater buying power. We have green mortgages for low-to moderate-income borrowers and others that are available to borrowers of all incomes. A required 3 percent contribution toward closing costs may come from a borrower's own funds, rebates, gifts, a grant, or certain other sources. A consumer can take advantage of these mortgages if the home they purchase meets the requirements of the Built Green Colorado program or the energy efficiency of the property exceeds the Model Energy Code by 30 percent and the water conservation is designed into the property.

Boulder Financial recognizes that the lower operating costs of an energy-efficient home mean more dollars available for the mortgage. Our Green Mortgages provides multiple benefits for a buyer of an energy-efficient home. They will enjoy reduced monthly energy costs, own a more valuable home, and can qualify for a larger mortgage. The home they are buying can be energy efficient "as-is" or they can use our Green Mortgages to increase the home's energy efficiency. We qualify you for a larger maximum allowable mortgage amount by adding the calculated monthly energy savings directly to the maximum mortgage amount for which they qualify. We can also add the value of the energy savings to the home's appraised value, which could qualify a borrower for a larger mortgage and/or different mortgage terms.

We help a homeowner’s identify cost-effective home improvements to increase the energy efficiency of their homes. Some lenders will consider the benefits of such improvements as part of financing a larger remodeling project.

All of our environmental mortgage products require that we obtain an energy rating on the home. What is an energy rating? An energy rating is a survey of where energy is used (and wasted) in a home. Depending on the audit, a consumer can find out:

• The efficiency of the heating and cooling systems, water, heater, lighting, and appliances;
  
• The levels of insulation in the walls, ceilings, attic, floors, and crawl space;
  
• Locations of holes or cracks around the walls, ceilings, windows, doors, light and plumbing fixtures, switches, and electrical outlets;
  
• Locations of duct leaks and sources of air access by using specialized tools such as infrared cameras, duct testers, and blower door equipment;
  
• Usage patterns based on a review of past utility bills (in combination with local climate data);
  
• Maintenance standards for appliances and cooling/heating systems; and
  
• The most cost-effective measures for reducing energy bills.

A home energy rating provides impartial standardized information on the expected energy performance for heating, cooling, and hot water use of a home. A rating can be performed for any house, regardless of its age, location, construction type, or fuel use.

Contact us now to learn how to get one!

Environmental Benefits

• Cost savings
• Comfort
• Reduced pollution

The benefits of using energy wisely have been touted for years, particularly since the energy crisis of the 70s. But we have grown complacent by the relatively low costs of energy over the last decade. Up until fairly recently, we paid our utility bill without much scrutiny. Now, however, with energy prices rising, energy costs take a noticeable piece of the budget, so energy efficiency makes clear economic sense. It's certain that energy prices will rise above current levels, so an energy-efficient home is going to be an asset in the coming years. And it goes without saying that everyone wants a home that stays warm in the winter and cool in the summer, without drafts, cold rooms, or hot spots - that is, we all want to be comfortable.

It is important to note, however, that beyond comfort and the impact on our pocket books, the energy consumption of a building over its useful life is its single most significant environmental impact. A building constructed today will use a lot on energy over its average life of 30 to 50 years, and that use has many implications.

The growing brown cloud over the Front Range is in part a result of how much energy we use in our homes. Electricity generated by coal-burning power plants results in emissions of carbon dioxide, sulfur dioxide and nitrous oxides. Natural gas fired electricity generation also contributes significant amounts of carbon dioxide to our air. Reducing the average house's energy use by 30% will reduce carbon dioxide emissions by about 34,000 pounds over its 30-year lifetime.
US petroleum reserves are already in decline and known world reserves will be in decline by 2010-2020. The world will probably never completely run out of oil, but as reserves decline, only those reserves that are the most difficult and expensive to tap, and more hazardous to the local habitats, will remain. Because of extraction cost, air quality and environmental concerns, it is likely that oil will become too expensive to burn for heat or electricity.

So energy efficiency is only common sense. Save money, be comfortable, and protect the environment. A well-insulated, well-sealed home with efficient windows, appliances, lighting and equipment is an absolute basic in green building. Incorporating passive solar design and solar water heating is cost effective and a prudent investment to reduce exposure to future energy cost increases. And all energy efficiency measures are vital to protecting our environment.


Immediate Benefits of Green Features
Most of the features listed in the Green Checklist have an overall environmental benefit addressing one or more of the three areas of environmental concern above. These include:

• Lower monthly costs
• Improved resale
• Greater comfort
• Quieter
• Improved Indoor Air Quality
• Greater safety
• Greater Durability
• Less maintenance