Countrywide Home Loans, a division of Countrywide Bank, FSB, today announced the retail launch of its Green Incentive Program, which will initially be available to qualified home buyers in thirteen states, including: Alaska, Colo., Iowa, Idaho, Minn., Mont., Neb., N.D., Ore., S.D., Utah, Wash., and Wyo. The program provides an interest rate reduction of .125% on a Countrywide loan used to purchase a new home that is built meeting recognized green and energy efficient standards.
"This program gives qualified home buyers more incentive to purchase energy-efficient and green-built homes," said Dave Porter, senior vice president and division builder manager for Countrywide. "Concern for the environment and saving precious natural resources doesn't have to conflict with buying a newly constructed home. Reduced interest rates, combined with the fact that most owners of green-built, energy-efficient homes pay lower monthly utility and water bills, make this program very attractive."
The Countrywide Green Incentive Program's interest rate reduction applies to newly constructed homes that meet third-party, certified standards of recognized green building programs, including Energy Star, Earth Advantage, LEED for Homes and Built Green programs of local home builder associations, as well as the National Association of Home Builder's Green Building program.