Contributor James McIntyre of Inclusive Prosperity Capital put down his thoughts on one particular way to meld an existing tool to make homeownership more accessible to the broader public while also engaging with new EPA funding on green technology. The approach of a “green DPA" could be part of the lender toolkit. It combines down payment assistance for first-time homebuyers with incentives to make their new homes more energy-efficient.
This concept could be a win-win. Homeowners save money on energy bills while reducing their environmental footprint. The program would leverage funding from the Greenhouse Gas Reduction Fund and utilize existing successful energy loan programs. However, challenges remain. Green mortgages haven't historically been popular in the US, and designing these programs to be tax-compliant and homeowner-friendly will require careful planning and collaboration between lenders and housing agencies.