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 - Route 7/Latham
518-783-1676
1202 Troy-Schenectady Rd
Latham, NY
Saratoga National Bank And Trust Co
(518)584-8120
3 Carpenter Lane & Route
Gansevoort, NY
Provantage Funding
(518)884-4033
2254 Route 50 South
SARATOGA SPRINGS, NY
MEM Financial Solutions
(518)688-2073
1480 Route 9
CLIFTON PARK, NY
Credit One Mortgage CO
(518)371-4002
23 Executive Park Drive
CLIFTON PARK, NY
Citizens Bank - Saratoga / Wal-Mart
518-583-9170
16 Old Gick Rd
Saratoga Springs, NY
Bank of America - 500 State Street
800.432.1000
500 State St
Schenectady, NY
Nationwide Insurance
(800)569-3719
950 New Loudon Rd
Latham, NY
Private Mortgage Investment Services
(518)583-1314
79 Washington Street
SARATOGA SPRINGS, NY
Hometown Mortgage Corp
(518)842-8500
4193 State Route 30
AMSTERDAM, 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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