Homebuyers Get Special Financing Perks for Energy-Efficient Construction
Focus on Energy and North Shore Bank offer great low rates for loans on energy-efficient homes
MADISON, Wis., Aug. 17, 2011 /PRNewswire-USNewswire/ -- Focus on Energy, Wisconsin utilities' statewide program for energy efficiency and renewable energy, is pleased to announce a first-of-its-kind financing program through North Shore Bank of Wisconsin. Under the new model, homebuyers who plan to build an energy-efficient home through Focus on Energy's New Homes Program will be eligible for lucrative financial rewards not afforded to individuals building a conventional home.
Unprecedented New Home Financing Model
North Shore Bank will now offer home mortgage loans at low rates for Wisconsin residents who build a home through the Focus on Energy New Homes Program.
"North Shore Bank recognizes the financial savings that energy efficiency brings," said Rovinski. "That's why we created a special package to allow higher debt to income ratios for those who have Focus on Energy certified homes. We want this program to succeed and for our customers to love their new efficient homes."
North Shore Bank is demonstrating its leadership on this important front by accepting low down payment options and not selling the loans. In addition, it also has over 45 office locations throughout Wisconsin, helping increase exposure to the Focus on Energy New Homes Program. North Shore Bank's value-added services offer the convenience and motivation for homebuyers to build a Focus on Energy New Home.
Focus on Energy New Homes Program Advantages
Focus on Energy New Homes are at least 10 percent more energy efficient than homes built to Wisconsin's Uniform Dwelling Code. Moreover, buyers of a Focus on Energy New Home can expect the following:
- Peace of mind—At every stage, Focus on Energy works with builders to help new homes meet the highest standards for energy efficiency.
- Lower energy bills—Homebuyers receive a homeowners manual to help them maximize the energy-efficient features of a Focus on Energy New Home.
- Proof positive—A third-party energy consultant certifies all Focus on Energy New Homes to verify they meet strict standards for energy efficiency, air tightness, insulation, ventilation, and safety.
- Resale differentiator—Focus on Energy New Home owners who sold their homes reported that energy efficiency was a differentiator for their prospective buyers.
"If you're in the market to build a new home, an energy-efficient home is a smart investment. You'll save money, enjoy better air quality, and have a more durable home," said Carter Dedolph, Focus on Energy Senior Programs Manager. "And, now Focus on Energy New Homes are even more appealing because of loan rates that are less than the national average."
How it works
- Visit North Shore Bank—Homebuyers meet with a North Shore Bank mortgage specialist to talk about their loan needs.
- Loan application—John Rovinski, Mortgage Loan Originator with North Shore Bank, calls the homebuyers to start processing the paperwork.
- Find a builder—Homebuyers work with a local builder affiliated with Focus on Energy's New Homes Program. A directory of participating builders is available at finditwithfocus.com.
- Site visit #1—New home is framed out. A Focus on Energy consultant performs first inspection.
- Construction—Home is completed based on rigid Focus on Energy standards for energy efficiency and safety.
- Site visit #2—Focus on Energy consultant performs final inspection. If the home passes all tests, it is certified as a Focus on Energy New Home.
- Repayment—Homeowners move in and start paying their monthly mortgage to North Shore Bank.
About North Shore Bank
North Shore Bank, headquartered in Brookfield, is one of the strongest banks in the country. It has assets of nearly $1.8 billion and more than 45 offices throughout eastern Wisconsin and northeastern Illinois. Current Wisconsin branch locations are in metro Milwaukee, Racine, Kenosha, Appleton, Menasha, the Green Bay area, Burlington, Union Grove, Ozaukee County and Door County. For more information about North Shore Bank, visit northshorebank.com or call John Rovinski, Mortgage Loan Originator with North Shore Bank, at 920.419.3206.
About Focus on Energy
Focus on Energy works with eligible Wisconsin residents and businesses to install cost-effective energy efficiency and renewable energy projects. Focus information, resources, and financial incentives help to implement projects that otherwise would not be completed, or to complete projects sooner than scheduled. Its efforts help Wisconsin residents and businesses manage rising energy costs, promote in-state economic development, protect our environment, and control the state's growing demand for electricity and natural gas. For more information, call 800.762.7077 or visit focusonenergy.com.
SOURCE Focus on Energy
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article