If you have an existing mortgage, you may be able to take advantage of the "Green Mortgage" refinances we've been able to work with many financial institutions in Wisconsin to offer. While it is not 100% the case, a good hint as to whether this program can work for you is by clicking here and looking at the interest rate listed under "Conventional Fixed Rate", and if your current mortgage interest rate is above that, you are likely able to do this Green Homes program. If it is close, please contact us and we can help determine it together with you.

Program steps (for those with an existing mortgage):

Step 1 

Fill out this form or click here to tell us more about your home and schedule a time to talk to us. We will go over the program details, learn more about your home and determine if your home can benefit from this program. Our rule: this program must save you more than it costs in our economic modeling or we will not move forward. Our goal is to help those who otherwise are unlikely to be able to access green upgrades.

Step 2

Provided our rule is met, we will visit the home and do a full investigation of energy & water saving opportunities, adjusting our economic models as needed. We will look to get you pre-approved for the financing for the energy improvements. We will investigate using tools such as thermal camera, air leakage test and utility bill look-back to fully estimate the opportunity for carbon- and utility bill-cutting. We will go over the mortgage refinance process and introduce you to one or more financial institutions.

Step 3

Working with financial institutions, we will determine what new mortgage interest rate you are eligible for and factor that into our economic model of costs and savings. Working with relevant contractors such as solar panel installers we will finalize the scope of work and provide a full overview of what the cost and savings of the program will mean for you on your mortgage payments, water bill (if applicable), electric and gas bills, again ensuring our main rule of positive savings is achieved. The financial institution will send a real estate appraiser to determine what the value of the home will be, and you will be invited to a refinance closing signing.

Step 4

After closing, some projects will be reimbursed by the bank immediately if already done, while others will have up to 6 months to finalize their projects and be paid. We will assist the new Green Homeowner in understanding and accessing any and all relevant tax credits and rebates that can further increase the savings. We will also help the homeowner understand how they can go further in fighting climate change at home!

We'll work with you to identify all relevant weather conditions, building factors, utility rates, bank fees, financing terms and more to show you at every step of the way where you stand on whether this program is expected to save more than it costs. 

If you are looking to purchase a new home, you should be able to take advantage of the "Green Mortgage" we've been able to work with many financial institutions in Wisconsin to offer. To do so, and if you haven't already had an offer accepted on a home, you can contact us and do the following: 

Program steps (for those looking to purchase a home):

Step 1 

Click here to schedule a time to talk to us. We will go over the program details, learn more about what you'd be interested in having on your home (such as solar panels) and determine if your next home can benefit from this program. Our rule: this program must save you more than it costs in our economic modeling or we will not move forward. Our goal is to help those who otherwise are unlikely to be able to access green upgrades.

Step 2

We connect you to area financial institutions that can preapprove you for a green mortgage, or you can ask your current financial institution if they will preapprove you for either a "Fannie Mae Homestyle Energy mortgage" or a "Freddie Mac GREENChoice mortgage" (FHA & VA mortgages can also be made green mortgages). If your financial institution agrees, great! (And please let us know!) If they are not sure but are willing to learn, connect us with them and we will work with the financial institution to start offering green mortgages. 

Step 3

Once you are preapproved, and you have found the house you want that has accepted your initial offer, we work with you (and your real estate agent if you have one) to identify energy saving opportunities on the property, such as solar panels, high-efficiency plumbing, insulation and more. Generally, the financial institution will finance energy improvements up to 15% of the value of the home (ex: $30,000 for a home worth $200,000). It is important to note that this is NOT like a home inspection, where issues and code violations discovered may be expected to be fixed by the home seller, but instead to identify all the ways the bank/credit union can fund energy upgrades through the buyer's mortgage that reduces the buyer's future utility bills. You may look to still work with a Home Inspector for other home quality questions and concerns. 

Working with relevant contractors such as solar panel installers we will finalize the scope of work and provide a full overview of what the cost and savings of the program will mean for you on your mortgage payments, water bill (if applicable), electric and gas bills, again ensuring our main rule of positive savings is achieved. The financial institution will have a real estate appraiser visit to determine what the value of the home will be after the improvements. We make every effort to speedily provide all this information so as to not add any more time than need be to the home buying process. 

Step 4

After closing, projects can begin immediately, and will have up to 6 months to do so. The bank will reimburse all contractors directly after the work is finalized, and can assist with down payments some contractors might require. We will assist the new Green Homeowner in understanding and accessing any and all relevant tax credits and rebates that can further increase the savings. We will also help the homeowner understand how they can go further in fighting climate change at home!

We'll work with you to identify all relevant weather conditions, building factors, utility rates, bank fees, financing terms and more to show you at every step of the way where you stand on whether this program is expected to save more than it costs. 

If you have an existing mortgage that is almost done (less than ~5-7 years) or you have no mortgage remaining, you may be able to take advantage of fair, green financing options, but the process may look different than if you are looking to refinance your longer term existing mortgage.

But, just because your mortgage is almost - or even fully - done doesn't mean energy efficiency/renewable upgrades are suddenly more affordable or that you shouldn't also be able to benefit from fair financing. But because "Green Mortgage Refinances" can also see reductions on their home's current interest rate, bank fees are usually eaten by savings from lower interest rates. That may not be the case with options for those with no existing mortgage.

While options such as home equity loans, home equity lines of credit or special solar or energy efficiency loans (such as WCCU's "Leg-Up" loan, or Summit CU's energy loans) are an option, they usually have terms that are too short or interest rates too high to hit the goal we aim to achieve: that energy efficiency upgrades be able to save more on utility bills than they cost to undertake.

Instead, if you are looking to do major energy efficiency upgrades, we often help homeowners access "Cash-Out Refinances" (and yes, it is still considered a "refinance" even if you have no mortgage). These allow homeowners to get a loan for upgrades that uses the equity in their home to ensure lower interest rates. While they tend to have a bit higher closing costs than home equity loans or lines of credit, they ensure much lower interest rates (usually in the 2.5-3.875% range) and allow for terms of 20 or 30 years to spread it over. Making it possible to see monthly energy savings above monthly payback costs on the loan.

We know this isn't for everyone. Psychologically, after paying off one's mortgage, an individual may not want to suddenly add another one with a lot of time or money left on it. We get that. That is why we design the programs to (1) save, whenever possible, more on the average monthly utility bills than the monthly cost of the loan, and (2) if the homeowner decided to move away, the improved value of the home from the upgrades covers the remaining loan. So you do not have to wait 20 years to see benefit nor are you stuck there for that long.  

Program steps (for those with no mortgage):

Step 1 

Fill out this form or click here to tell us more about your home and schedule a time to talk to us. We will go over the program details, learn more about your home and determine if your home can benefit from this program. Our rule: this program must save you more than it costs in our economic modeling or we will not move forward. Our goal is to help those who otherwise are unlikely to be able to access green upgrades.

Step 2

Provided our rule is met, we will visit the home and do a full investigation of energy & water saving opportunities, adjusting our economic models as needed. We will look to get you pre-approved for the financing for the energy improvements. We will investigate using tools such as thermal camera, air leakage test and utility bill look-back to fully estimate the opportunity for carbon- and utility bill-cutting. We will go over the mortgage refinance process and introduce you to one or more financial institutions.

Step 3

Working with financial institutions, we will determine what interest rate you are eligible for and factor that into our economic model of costs and savings. Working with relevant contractors such as solar panel installers we will finalize the scope of work and provide a full overview of what the cost and savings of the program will mean for you on your mortgage payments, water bill (if applicable), electric and gas bills, again ensuring our main rule of positive savings is achieved. The financial institution will send a real estate appraiser to determine what the value of the home will be, and you will be invited to a refinance closing signing.

Step 4

After closing, the bank will write you a check for the total amount of funding you request, with no requirements on how it is spent. You will then work directly with us to schedule and begin the projects. We will assist the new Green Homeowner in understanding and accessing any and all relevant tax credits and rebates that can further increase the savings. We will also help the homeowner understand how they can go further in fighting climate change at home!

We'll work with you to identify all relevant weather conditions, building factors, utility rates, bank fees, financing terms and more to show you at every step of the way where you stand on whether this program is expected to save more than it costs. 

Carbon emissions do not care what kind of building they come from, unfortunately the financial world offering green upgrades do. We're sorry, at this time it isn't very convenient for renters to do programs like this, we're working on that. 

There are four ways we've identified that it can be done, which we'll share below. If we can help we'd like to, please reach out. 

Approach 1 - if your landlord applies (apartment buildings of 1-4 units)

The Green Mortgage refinance can be available to rental properties too of 1-4 units. The spirit of the program is that the financial institution takes on the cost of upgrading the property, adding it to the monthly mortgage, which in turn is reduced by reducing the property's interest rate and by reducing utility bills. However, many renters pay some of their own utility bills (usually not water/sewer bills, but most of the time electric and usually heat). So, renters and landlords should discuss how the costs/savings will come about - between rent, mortgage, water/sewer bills, electric and gas bills - and adjust as needed so all parties are willing participants in the program.

We can help make sure all parties are aware and trust the results. Tell us more about the property here and let's set up a time to talk.

Approach 2 - if your landlord applied (apartment buildings of 5+ units)

Another program is available to apartment buildings of 5 or more units, known as PACE financing (Property Assessed Clean Energy). Like above, renters and landlords should figure out the distribute of savings/costs, but PACE can be an efficient way to finance larger buildings. We encourage you to check out PACE Wisconsin for more. 

Approach 3 - if your utility offers "Pay-As-You-Save" style On-Bill Financing programs

What we consider the "Gold Standard" of residential energy efficiency, but is unfortunately not common in Wisconsin (the only one offering this program that we know of in Wisconsin is the Vernon Electric cooperative). We strongly believe ALL utilities should offer this program and we will help anyone make the case for it.

Pay-As-You-Save (see the video here) is an innovative program where the utility pays for upgrades to the property, and they claim a portion of the savings on the same utility bill with a small fee (known as a "tariff") less than the savings generated by upgrades. Properly done, Pay-As-You-Save is not a loan or debt, and it can transfer between residents or renters, since you can't take insulation or solar panels with you when you leave! The next resident sees all the savings and continues paying the fee on the utility bill for that property. For example, a resident might see $50 reduction on their monthly utility bills after energy efficiency improvements, but pay only $30 per month (depending on projects and program terms), such that they are savings every month.

Again, most utilities in Wisconsin are NOT yet offering this, but they absolutely could. Communities with rural electric cooperatives can do so right now, without Wisconsin Public Service Commission approval, while investor-owned or municipal utilities could do so now too, with PSC approval. Once method of making this happen in small towns and rural areas is the USDA "Rural Energy Savings Program" (RESP), where the federal government can capitalize a Pay-As-You-Save program. In fact, that is how Vernon Electric Cooperative started theirs.

Let us know if Green Homeowners United can help make this happen. We believe Pay-As-You-Save style programs are the best, most equitable way to help tens of thousands of homes, be they owner-occupied or rental.

Approach 4 - Reach out to us, Carbon Equity fund 

If none of the above are options, please email [email protected]. We are working with the financial institutions to explore a carbon equity fund that will allow us to help make energy-efficient and more comfortable apartments too, without the landlord or renter(s) having to pay more for it. This project will be down the road, but reach out and we can explore if it might be feasible for you. 

We specialize in helping people identify how to finance energy upgrades that save more per average month than they cost, wherever possible. However, if you are not looking for fair, green financing terms for your project, we may be able to help.

If you are looking to pay out-of-pocket for projects such as new furnace, insulation or solar, we encourage you to look to the list of Focus on Energy trade allies. https://focusonenergy.com/trade-ally/find. While we are listed as a Focus on Energy trade ally, we prefer to focus on those who are unable to pay out of pocket directly, however we can help you if your goal is to upgrade and support this cause. Contact us to learn more.

If you are looking to finance the project not for many years but just for a few months, we can also help with that. Thanks to a partnership with Benji Financing, we can help with 0% interest green home upgrade financing so long as the loan is paid off within either 6 or 12 months. If it looks like you will not be able to pay it off within that time, we can help you roll it into a Green mortgage refinance, home equity loan or other method of longer term financing to ensure fair financing terms.

Contact us to learn more.