Green Mortgages Albany NY

Financing has often been the missing piece in green home sales. Nationally, Fannie Mae offers an energy-efficient mortgage, which allows a lender to use the estimated monthly utility savings to increase an applicant's buying power and qualify them for a higher-priced home in Albany.

Local Companies

Edge Real Estate And Financial Svcs
(518)233-1700
1 Bent Pine Hollow
Clifton Park, NY
Amp Abstract And Title Services
(518)783-7127
974 Albany Shaker Road
Latham, NY
Homestead Funding Corporation
(518)373-0814
1407 Route 9
CLIFTON PARK, NY
Cateret Mortgage
(518)371-8098
17 Acorn Avenue
CLIFTON PARK, NY
Freedom Mortgage Corporation
(518) 664-8800
17 Johnson Rd
Mechanicville, NY
TD Bank
518-455-9912
125 State Street
Albany, NY
Legacy Land Title Llc
(518)371-8166
56 Clifton Country Rd
Clifton Park, NY
Nationwide Equities Corporation
(518)456-7500
6 British American Blvd
LATHAM, NY
Colonial Home Finance Inc
(518)371-1100
58 Clifton Country Rd
CLIFTON PARK, NY
Berkshire Capital
(518)477-5181
4 Springhurst Drive
EAST GREENBUSH, NY

Provided By:


Comfort Zone: Creating a Middle Ground for Green Building and Great Profits


By Alison Rice


Financing has often been the missing piece in green home sales. But attitudes are changing, especially at Fannie Mae. "We want to encourage lenders and builders to be more resource efficient and give the consumer benefits based on the fact that they're spending less on utilities," says Jim Taylor, director of product development in Fannie Mae's housing impact division. "They're a better credit risk to us because they're not spending that money on utilities."


Nationally, Fannie Mae offers an energy-efficient mortgage, which allows a lender to use the estimated monthly utility savings to increase an applicant's buying power and qualify them for a higher-priced home.


Taylor estimates that the lender did quite well in its first mortgage energy business. He expects the specific numbers to jump higher as Fannie Mae conducts more marketing and product development.


Some buyers may have a second option: Fannie Mae's home performance power product, which boosts an applicant's monthly income by the home's monthly energy savings. Lower utility cost is just one requirement of this mortgage, which is available only in specific markets. In Albuquerque, N.M., for example, a home must demonstrate energy efficiency and be located within 5 miles of downtown.

Click here to read full article from Builder Online