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

Citizens Bank - Latham Farms
518-783-8274
882 New Loudon Road
Latham, NY
Veterans Homeownership Corporation
(518)783-9798
9 Herbert Drive
Latham, NY
Maple Tree Funding
(518)782-1202
1202 Troy Schenectady Road
LATHAM, NY
Home Funding Finders Inc
(518)783-1234
621 Columbia Street
COHOES, NY
Flaherty Funding Corp
(518) 724-1720
1086 New Loudon Rd Ste 101
Cohoes, NY
HSBC Bank
1.800.975.HSBC (4722)
Price Chopper Supermarket 1963 Altamont Ave
Schenectady, NY
Mansfield And North Corporation
(518)383-9423
1 Barney Road
Clifton Park, NY
Proline Mortgage Corporation
(518)885-5556
20 Prospect Street Suite 102
BALLSTON SPA, NY
Home Mortgage Network
(518)783-6600
930 Albany Shaker Road
LATHAM, NY
Capitaland Funding Group LLC
(518)245-6669
100 Saratoga Village Boulevard
BALLSTON SPA, 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

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