Green Mortgages Buffalo 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 Buffalo.

Local Companies

Bank of America - Elmwood
716.881.2915
495 Elmwood Avenue
Buffalo, NY
Bank of America - Depew Transit
800.432.1000
6041 Transit Rd
Depew, NY
Territory Mortgage
(716)832-7836
124 Crosby Blvd
BUFFALO, NY
Niagara Frontier Funding Company
(716)439-0388
4759 Saunders Settlement
LOCKPORT, NY
Global Home Loans and Finance Inc
(716)332-3635
1560 Harlem Road
BUFFALO, NY
HSBC Bank
1.800.975.HSBC (4722)
Across From Tops 1510 S Park Ave
Buffalo, NY
Citizens Bank - Kenmore
716-874-7296
1698 Sheridan Drive
Kenmore, NY
M And T Bank M And T Mortgage Corporation Rates And Application
(716)848-4848
4564 Main Street
Buffalo, NY
Novastar Home Mortgage Inc
(716)692-7007
908 Niagara Falls Boulevard
NORTH TONAWANDA, NY
Money Place
(716)284-8979
661 Main Street
NIAGARA FALLS, 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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