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

Bank of America - Bailey Delavan
800.432.1000
1171 East Delavan Ave
Buffalo, NY
Coldwell Banker Boyd And Talarico Real Estate
(716)434-6347
526 South Transit Street
Lockport, NY
American General Financial Services
716-694-3008
Tonawanda, NY
M & T Bank - M & T Mortgage Corporation- Rates & Application
(716)848-4848
4564 Main Street
BUFFALO, NY
Associates Mortgage Company of New York Inc - Tonawanda
(716)447-1678
2167 Sheridan Drive
BUFFALO, NY
Citizens Bank - Young St-Tonawanda / Tops
716-693-7285
890 Young St
Tonawanda, NY
Bank of America - Hamburg
800.432.1000
43 Main St
Hamburg, NY
Allstate Insurance Bryan J Ripellino
(716)675-8100
S3346 Southwestern Blvd
Orchard Park, NY
Novastar Home Mortgage Inc
(716)692-7007
908 Niagara Falls Boulevard
NORTH TONAWANDA, NY
Household Finance Corporation
(716)835-8383
3314 Sheridan Drive
BUFFALO, 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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