Green Mortgages Cortland 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 Cortland.

Local Companies

Atlantic Title And Abstract Corporation
(607)272-9310
320 North Aurora Street
Ithaca, NY
Tompkins Trust Company
(607)273-3210
The Commons
DRYDEN, NY
M & T Bank - Banking Departments- M & T Mortgage Corporation
(607)756-4187
1091 State Route 222
CORTLAND, NY
First National Bank Of Groton
(607)898-5871
161 Main
GROTON, NY
Alliance Bank NA
(315)696-6333
5789 State Route 80
TULLY, NY
Bank of America - Ithaca Commons
607.274.4860
202 the Commons
Ithaca, NY
Mid York Associates
(315)696-5714
4 Clinton St
Tully, NY
M & T Bank - M & T Mortgage Corporation
(607)273-7111
118 North Tioga Street
ITHACA, NY
Fleet Private Clients Group
(800)266-3085
304 Elmira Road
ITHACA, NY
Alliance Bank NA - Community Branch Locations- Groton Avenue Office
(607)753-3391
1125 State Route 222
CORTLAND, 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