Today I was doing a 1 to 1 meeting with a mortgage professional and she mentioned that she was taking a green certification to get certified to be a green lender. Basically, that the green homes that she underwrites will qualify for a green loan and the process will be green.
To her surprise, she mentioned that appraisers and inspectors have valuation issues due to lack of green homes as comparables.
I mention to her that in the insurance world, there are some carriers that are offering green discounts on their homeowner’s policy. Needless to say, she was excited! She didn’t think there was such a discount on an insurance policy!
My explanation was that carriers have a large pool of statistics and can use nationwide actuary information to determine rates for green homes. Also, in the eyes of the risk manager, green homeowners tend to take care of their home due to the investment expenses involved. Overall, the underwriting for a green home is much favorable than a regular home.
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