Home ownership will always involve more than a principal and interest payment. Energy usage plays a part in the cost of owning a home, and According to data from the National Energy Assistance Directors Association energy bills are projected to rise in every region of the U.S. this year, impacting all of us.
Historically adding Renewable Energy and smart home features in home building hasn’t made sense for builders.HY?
We set out to solve these problems for our builder partners and created our new Mortgage program: LOWTIILTY. Lowtility is a cutting-edge proprietary mortgage solution that empowers consumers to finance energy-efficient upgrades in addition to their home purchase. By combining the home purchase and upgrades into a single loan, we provide a streamlined and convenient financing option that saves the consumer 10’s of thousands of dollars in waste that is in the old model of financing renewable energy and home buying.
This allows the builders the option of marketing to new home buyers energy efficient and smart home features to stand out amongst their builder competitors. Even better, these additions are completed post close / occupancy and don’t slow down building or funding time frames. We’ve even managed to solve for the appraisal issues that typically accompany renewable energy additions.
The answer is simple: by making energy-efficient smart home upgrades, they can significantly reduce their utility payments, surpassing any increase in their mortgage payment.
When comparing PITI + Utility Payments, for roughly the same monthly cost a consumer could have a smart home, using renewable energy, and also be eligible for a Tax Credits. Beginning in late 2023, there are even more tax rebates, inside the Inflation Reduction Act, bill.
1. Lowering the cost of homeownership: We acknowledge that power payments are an inevitable part of owning a home. As responsible homeowners, it is crucial to consider utility costs when assessing the overall expenses of homeownership. By enabling our customers to choose where and how they obtain their power, we empower them to reduce their power costs.
2.Protecting customers from predatory solar financing. We refuse to stand idly by while our valued customers fall victim to insane dealer fees and unreasonable solar commissions, often amounting to 30-50% when solar panels are added post-home purchase. By integrating solar financing into the mortgage and partnering with trusted companies, we save our customers tens of thousands of dollars in fees and provide a reliable alternative. Their waste is our mutual opportunity.
3. Ensuring tax credits and rebates benefit homebuyers: Currently, solar finance structures often redirect tax credits and rebates to finance companies. Our financing product ensures that consumers retain their entitled tax credits and rebates, in accordance with the Inflation Reduction Act. We believe that homebuyers should reap the rewards, not the finance companies.
Lowtility represents a groundbreaking opportunity for homebuyers and builders to embrace energy efficiency, the convenience of smart home features, while enjoying the financial benefits of monthly savings, and gain access to the billions set aside for homeowners the form of tax credits and rebates.
As a Builder; are you ready for how the Inflation Reduction Act and the rebates and credits included in that bill, will change home building?
To learn more about Lowtility and explore how it can benefit you and your clients, please schedule a time to talk with us here: SCHEDULE NOW
We look forward to discussing this exciting opportunity with you.