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

Monroe Title Insurance Corporation
(518)374-8438
18 Front Street
Ballston Spa, NY
Berkshire Bank
518-348-6523
Clifton Park, NY
Sunset Mortgage
(518)877-4611
258 Ushers Road Suite 203
CLIFTON PARK, NY
Coldwell Banker Prime
(518)843-5255
42 Division Street
AMSTERDAM, NY
Aamtrust Mortgage
(518)384-2274
763 Saratoga Road
SCHENECTADY, NY
Bank of America - 500 State Street
800.432.1000
500 State St
Schenectady, NY
Nbt Bank Offices
(518)348-0781
9 Clifton Country Road
Clifton Park, NY
USA Liberty Mortgage Corp
(518)382-8170
411 Ballston Rd
SCHENECTADY, NY
Proline Mortgage Corporation
(518)885-5556
20 Prospect Street Suite 102
BALLSTON SPA, NY
Adirondack Note Buyers Inc
(518)374-5011
763 Westmoreland Drive
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.

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