Green Mortgages Cohoes 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 Cohoes.

Local Companies

Bank of America - Colonie - Wolf Rd
518.459.9003
133 Wolf Rd
Albany, NY
Citizens Bank - Loudonville
518-489-1867
265 Osborne Road
Loudonville, NY
Nationwide Insurance
(800)569-3719
950 New Loudon Rd
Latham, NY
Chase Manhattan Mortgage Corporation
(518)433-2500
12 Corporate Woods Boulevard
ALBANY, NY
Hartford Funding Ltd
(518) 372-3163
322 Ballston Rd
Glenville, NY
HSBC Bank
1.800.975.HSBC (4722)
Latham Circle 494 Troy Schenectady Rd
Latham, NY
Citizens Bank - Albany Downtown/Starbucks
518-447-0151
10 North Pearl Street
Albany, NY
Consumer Marketing Services Inc
(518)885-0437
20 Church Avenue
Ballston Spa, NY
Knickerbocker Mortgage Inc
(518)869-2485
1524 Central Avenue
ALBANY, NY
Capital Region Funding
(518)218-7500
210 Washington Avenue Ex
ALBANY, 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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