Green Mortgages Brooklyn 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 Brooklyn.

Local Companies

Chase Bank
(516) 568-0764
163 W Merrick Rd
Valley Stream, NY
Wells Fargo - Third Avenue & 47Th Street
917-322-6500
757 3Rd Ave
New York, NY
Long Island Title Agency
(516)227-2742
600 Old Country Road Rm 516
Garden City, NY
First Laridian Mortgage Company
201-489-4555
Hackensack, NJ
Jersey Mortgage Company
(908) 276-2442
20 Commerce Dr Ste 340
Cranford, NJ
Chase Bank
(516) 791-3893
930 Rosedale Rd
South Valley Stream, NY
Capital One
516-791-6000
5 Green Acres Rd
Valley Stream, NY
Hogar Mortgage And Financial Service
(201)343-4440
425 Main Street
Hackensack, NJ
Helen Beichel
1133 Park Place
Brooklyn, NY
Household Finance Corporation
(718)448-8610
60 Bay Street
STATEN ISLAND, 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

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