Financing Your Green Dream Home with Trisha McConkey of Associated Bank
Marla Esser Cloos (aka The Green Home Coach) is the founder and co-host of Green Gab, a weekly podcast where she and co-host Tony Pratte talk all things green. She is also a NAHB Master Certified Green Professional, LEED AP, and works with individual consumers, homeowners, builders, remodelers, realtors and just about anyone that works with a home in some way.
Gabbing about financing for green home projects with Trisha McConkey of Associated Bank. Trisha and Associated Bank’s experience and expertise with mortgages and loans help homeowners to finance their dream home, especially a green home. The way they think about new construction residential loans and renovation loans really helps further the whole idea of green homes and their value and benefits.
A green home project may be a bit different from a run-of-the-mill home project and deserves the consideration of the extra care and features that go into the home. Working with lenders and appraisers that understand the added value of a green home helps get appraisals and loans that support the project. Many lenders and appraisers have not yet gotten the training and experience for appraising and financing green home projects. Just like any other specialty area – VA loans, for instance – this training and experience creates a pool of knowledgeable professionals. To help, the Appraisal Institute has published the Green Appraisal Addendum to help appraisers track and assess the additional features of a green home or project.
Since Associated Bank specializes in construction loans and they lend their own money, the have flexibility in how they underwrite their borrowers, the interest rates they offer and their appraisal process. As others in the company also work on green home projects, they have built up a portfolio of green homes and the experience gained from these projects. Associated Bank is primarily a Midwest bank and their offerings are available in select states.
All types of home projects may qualify for green consideration – new construction, renovations to a home just being purchased, as well as existing home renovations and refinance. Understanding homeowners’ long term goals for their home, especially if they wish to live there a long time, helps Trisha to match the right offerings to her clients’ needs.
If you’re interested in environmental education, every week on iTunes and on The Green Gab Podcast, we gab and share what we’ve done, as well as tips for greening up your home, your job, your family and your life! Get in on the gab for why green matters – to you, your family and friends and your community. Get Marla’s book Living Green Effortlessly: Simple Choices to a Better Home. [Disclaimer: We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.]