For those ready to jump into the toss-and-turn housing market and buy a newly built home, it now pays to go green.

Countrywide Home Loans, a division of Countrywide Bank, FSB, has announced the retail launch of its Green Incentive Program, which will initially be available to qualified home buyers in thirteen states, including: Alaska, Colo., Iowa, Idaho, Minn., Mont., Neb., N.D., Ore., S.D., Utah, Wash., and Wyo. The program provides an interest rate reduction of .125% on a Countrywide loan used to purchase a new home that is built meeting recognized green and energy efficient standards.

"This program gives qualified home buyers more incentive to purchase energy-efficient and green-built homes," said Dave Porter, senior vice president and division builder manager for Countrywide. "Concern for the environment and saving precious natural resources doesn't have to conflict with buying a newly constructed home. Reduced interest rates, combined with the fact that most owners of green-built, energy-efficient homes pay lower monthly utility and water bills, make this program very attractive."

The Countrywide Green Incentive Program's interest rate reduction applies to newly constructed homes that meet third-party, certified standards of recognized green building programs, including Energy Star, Earth Advantage, LEED for Homes and Built Green programs of local home builder associations, as well as the National Association of Home Builder's Green Building program. Additional information is available through many local Countrywide home loan consultants in areas where the program is available.

So how do you find homes that qualify for this program here in Seattle? Homes that are certified Built Green, Energy Star or LEED (Leadership in Energy and Environmental Design) are now listed as such on the Northwest Multiple Listing Service. Just ask your real estate agent to include these certifications in your search criteria.

As an agent myself, I'll be interested to see this program in motion. Exactly what does Countrywide mean by "qualified buyers"? How will they be verifying a home is certified by one of these rating programs? Will this program include all levels of Built Green (some of which aren't as energy-efficient or green as others)?

This program will definitely offer an up-front value, and puts a specific value on going green. Way to go Countrywide for pioneering this! I'm sure many others will follow.