Green Mortgages Amsterdam 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 Amsterdam.

Local Companies

Bank of America - Bellevue
800.432.1000
2525 Broadway
Schenectady, NY
Johns And Lee Real Estate Service Llc
(518)281-3484
1471 Route 9 #6
Clifton Park, NY
Metroland Agency Inc
(518)377-2072
2330 Broadway
SCHENECTADY, NY
Citifinancial
(518)773-0428
RR 30 Box A
GLOVERSVILLE, NY
Alternative Funding
(518)393-3025
1327 Curry Road
SCHENECTADY, NY
Citizens Bank - Eastern Parkway/Price Chopper
518-382-9283
1640 Eastern Parkway
Schenectady, NY
Consumer Marketing Services Inc
(518)885-0437
20 Church Avenue
Ballston Spa, NY
First Credit Corporation Of Ny Inc
(518)773-2718
21 North Main Street
Gloversville, NY
Fulton County Federal Credit Union
(518)725-3191
355 Hales Mills Road
GLOVERSVILLE, NY
Cateret Mortgage
(518)371-8098
17 Acorn Avenue
CLIFTON PARK, 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.

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