Colorado ENERGY STAR Mortgage Program
Buy an ENERGY STAR new home and get a better deal on your mortgage!
With this program, you can access a lower interest rate on your new home loan - the Bank and the GEO are underwriting one "discount point" that benefits you. Save every month on your mortgage with this program.
What is the Colorado ENERGY STAR Mortgage Program?
The ESM is a way for the Bank of Colorado and the Governor’s Energy Office to offer
better financing for the purchase of newly constructed ENERGY STAR Homes. It
can be used in conjunction with any Conventional, FHA or VA loan program to obtain a
lower monthly payment.
How do I apply?
Application is simple. Just click here to be taken to the Secure Online Application and
enter your information. Your loan qualifications will be evaluated and you will be
contacted with a proposal for a mortgage loan for your purchase. You may select the
type of loan, term, fees and down payment that is right for you.
What is a discount point?
A discount point is a fee that is charged by a bank when making a mortgage loan. One
point equals one percent of the loan amount. In most situations the term is used
interchangeably with “origination fee”. The result of the one-time fee is to yield a better
interest rate for the life of the mortgage loan. Best of all, when you buy an ENERGY
STAR home, this fee is paid for you so you get a better rate with no additional fee.
What is an ENERGY STAR home?
During the design and construction of a new home, the builder can select materials,
equipment, appliances and design options that result in a reduction in the anticipated
energy consumption of the home. The Environmental Protection Agency’s ENERGY
STAR Home Program requires that the new home is designed and tested so that it will
consume at least 15% less energy than a home built to the 2004 International Building
Code standards. In addition, such homes are reported to be more comfortable and provide
a healthier living environment. Ask your builder for more details!
We would like to thank our program partners:
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