Rebuild Greener and Get Rewarded
New Silver is a member of the U.S. Green Building Council (USBGC) and is committed to doing its' part to reduce the global carbon footprint. In an effort to help make the world more sustainable, New Silver is offering incentive programs to its borrowers who make commitments to sustainable construction.
Reimbursements for Ground Up Construction
New Silver will reimburse the cost of the LEED certification and associated inspection fees. To be certified, a property must score a certain number of points across a number of sustainable initiatives. More information can be found on the LEED website.
LEED stands for Leadership in Energy and Environmental Design, and includes benchmarking success in energy efficiency, human health metrics and indoor air quality, water efficiency, and resilience, all of which home buyers may find attractive. LEED projects have been shown to rent and sell more quickly, especially in this market with increased awareness of the need for sustainable, healthy places. LEED certified buildings are proven to save money, improve efficiency, lower carbon emissions and create healthier places for people.
Reimbursements for Fix-&-Flip Properties
New Silver will reimburse the costs associated with energy efficient incentive programs. The Database of State Incentives for Renewables & Efficiency (DSIRE) is the most comprehensive source of information on State incentives and policies that support renewable energy and energy efficiency in the United States. New Silver encourages borrowers to utilize the DSIRE website to find incentive programs for their projects.
Terms and conditions
Borrowers must submit all receipts and proof of payment for reimbursable costs to New Silver for review. Once verified and approved by New Silver, the total reimbursement amount will be deducted from the principal balance of the loan at maturity. Restrictions may apply. Ground Up: New Silver will reimburse up to $500 for the cost of the LEED certification and associated inspection fees. Fix and Flip: New Silver will reimburse up to $500 for the costs associated with energy efficient incentive programs at both the State and Federal level.