New Bill In Congress Would Add Energy Costs To Mortgage Ratios

A new bill introduced by two senators would force lenders to consider home energy costs when underwriting. At first glance this seems like more legislation that would only hamper potential buyers from obtaining loans. However, there is a large upside. Many home owners are not fully aware of how energy improvements can positively affect the value of their home. Even many appraisers are not qualified to consider these enhancements. As realtors we normally fight for our clients to have the lender realize that energy improvements and upgrades do in fact increase home values. In many cases we are not successful. This legislation will now force the appraisers and lenders to accept this fact that most realtors have known for many years. For more details on the bill click here.