Green Mortgages Binghamton 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 Binghamton.

Local Companies

Citizens Bank - North Street/Price Chopper
607-786-3842
911 North Street
Endicott, NY
Nbt Bank Customer Service And Account Information Offices
(607)724-6337
1256 Upper Front Street
Binghamton, NY
Monroe Title Insurance Corporation
(607)687-1776
176 Main Street
Owego, NY
NBT Bank - Customer Service & Account Information- Offices
(607)724-6337
1256 Upper Front Street
BINGHAMTON, NY
Farrell Realty USA Com
(607)754-4040
3660 George F Highway
ENDICOTT, NY
Citizens Bank - Chenango Bridge
607-648-8531
603 River Road
Chenango Bridge, NY
Four Corners Abstract
(607)772-6976
71 State Street
Binghamton, NY
Perpetuities Title Corporation
(607)231-7688
25 Main Street
Binghamton, NY
Terry Strauss Agency
(607)748-6328
1250 Vestal Pkwy E
Vestal, NY
Mortgage It Inc
(607)644-9200
4104 Vestal Road
VESTAL, 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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