Green Mortgages Clifton Park 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 Clifton Park.

Local Companies

Bank of America - 69 State Street
800.432.1000
69 State St
Albany, NY
Saratoga National Bank And Trust Co
(518)583-6504
91 West Avenue
Saratoga Springs, NY
Vivid Images
(518)580-1752
42 York Av
SARATOGA SPRINGS, NY
Countrywide Home Loans
(518)786-3600
579 Schenectady Street
SCHENECTADY, NY
Homestead Funding Corp
(518) 464-1100
8 Airline Dr
Albany, NY
Citizens Bank - Altamont Ave./Price Chopper
518-357-2180
1879 Altamont Ave. Suite 2
Shenectady, NY
Lawyers Title Insurance Corporation
(518)885-8700
36 Remsen Street
Ballston Spa, NY
Berkshire Bank
518-348-6523
Clifton Park, NY
Tri City Funding Inc
(518)373-2220
10 Executive Park Drive
CLIFTON PARK, NY
Carteret Mortgage
(518)374-2366
59 Snake Hill Road
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.

Click here to read full article from Builder Online

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