Green Mortgages Ballston Spa 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 Ballston Spa.

Local Companies

Bank of America - Bellevue
800.432.1000
2525 Broadway
Schenectady, NY
Saratoga National Bank And Trust Co
(518)584-8120
3 Carpenter Lane & Route
Gansevoort, NY
State One Agency Corp
(518)581-7300
1 West Ave
SARATOGA SPRINGS, NY
Mansfield & North Corporation
(518)383-9423
1 Barney Road
CLIFTON PARK, NY
Century Health Capital Inc
(518) 583-1667
358 Broadway Ste 401
Saratoga Springs, NY
Citizens Bank - Saratoga
518-587-3232
84 Congress St/Gr. Union Plz
Saratoga Springs, NY
Nbt Bank Branches Customer Service And Account Information
(518)842-2123
106 Hannaford Plaza
Amsterdam, NY
Saratoga National Bank And Trust Co
(518)583-6504
91 West Avenue
Saratoga Springs, NY
Saratoga Funding & Development Co
(518)583-4866
12 Cedarcrest Dr
SARATOGA SPRINGS, NY
Carteret Mortgage
(518)374-2366
59 Snake Hill Road
SCHENECTADY, NY

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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