Guild Mortgage recently introduced GreenSmart Advantage, a new program in partnership with The Home Depot to help home buyers save on utility costs and manage multiple payments by bundling the cost of new energy-efficient appliances into their home loan.
The program helps home buyers reduce potential utility bills by purchasing new energy-efficient appliances, including refrigerators, clothes washers and dryers, dishwashers, and smart thermostats.
The cost of new appliances is bundled into the home buyer’s loan, reducing the burden of future expenses and multiple payments while investing in more sustainable improvements.
“We’re always looking for ways to ease our client’s transition into a new home, especially for first-time home buyers,” says Mary Ann McGarry, CEO, Guild Mortgage, in a release. “We know utility costs can be a big expense for homeowners and replacing old, outdated appliances add to those costs. With GreenSmart Advantage we can help our clients start off right, with energy cost savings that can last throughout the life of their loan. Beyond the cost savings, this program gives homeowners peace of mind that comes from knowing they’ll have brand new, energy-efficient appliances that are better for the environment.”
The GreenSmart Advantage program offers options to finance energy or water-efficient improvements up to 5% of a home’s appraised value by consolidating the costs into a mortgage and is available for first-time and repeat homebuyers.
Primary FHA purchase transactions are eligible. A 3.5% down payment and credit score above 580 is required to qualify.