Green Mortgages Depew 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 Depew.

Local Companies

Citizens Bank - Orchard Park/Tops
716-677-2228
3201 Southwestern Blvd
Orchard Park, NY
Citizens Bank - Broadway-Bailey Tops
716-897-1243
1770 Broadway
Buffalo, NY
Bank of America - Buffalo
800.432.1000
2221 Seneca St
Buffalo, NY
Jerome Walters Agency
(716)833-8500
3871 Harlem Rd
Buffalo, NY
First Callateral Services Inc
(716)646-0070
229 Main Street
HAMBURG, NY
Citizens Bank - Hamburg
716-646-5515
5469 Camp Road
Hamburg, NY
Citizens Bank - Jefferson-Riley/Tops
716-885-2378
1275 Jefferson Ave
Buffalo, NY
Bank of America - Williamsville South
800.432.1000
5529 Main St
Williamsville, NY
Bank of America - Aurora Circle
800.432.1000
50 Grey St.
East Aurora, NY
Associates Mortgage Company Of New York Inc West Seneca
(716)674-4948
1102 Union Road
West Seneca, 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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