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 - East Greenbush Price Chopper
800.432.1000
501 Columbia Turnpike
Rensselaer, NY
Hudson River Bank And Trust Company
(518)432-4274
41 State St
Albany, NY
U S Note And Mortgage Co Inc
(518)581-2508
18 Lake Avenue
Saratoga Springs, NY
SMC Mortgage CO
(518)371-1085
1406 Route 9
CLIFTON PARK, NY
Adirondack Note Buyers Inc
(518)374-5011
763 Westmoreland Drive
SCHENECTADY, NY
HSBC Bank
1.800.975.HSBC (4722)
Colonie Center/Sand Creek 95 Wolf Rd
Albany, NY
Capitaland Abstract Co Inc
(518)463-3923
90 State Street Suite 1100
Albany, NY
Consumer Marketing Services Inc
(518)885-0437
20 Church Avenue
Ballston Spa, NY
Capital Region Home Ownership Center
518-869-1800
Albany, NY
Home Funding Finders Inc
(518)783-1234
621 Columbia Street
COHOES, 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.

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