Green Mortgages East Amherst 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 East Amherst.

Local Companies

Bank of America - Main & Fillmore
800.432.1000
2389 Fillmore Avenue
Buffalo, NY
Bank of America - Dick Urban
800.432.1000
600 Dick Rd
Depew, NY
Bank of America - South Park
800.432.1000
1989 South Park Ave
Buffalo, NY
Jamestown Savings Bank Commercial Lending
(716)631-8767
4545 Transit Road
Buffalo, NY
Fleet Private Clients Group
(716)847-4432
10 Fountain Plz
BUFFALO, NY
Citizens Bank - Grand Island / Tops
716-775-3344
2140 Blvd
Grand Island, NY
Bank of America - Orchard Park
800.432.1000
6529 East Quaker St
Orchard Park, NY
Bank of America - West Seneca
800.432.1000
4049 Seneca St
West Seneca, NY
Four Corners Abstract
(716)856-0868
581 Ellicott Street
Buffalo, NY
Riedman Corporation
(716)434-3535
76 West Ave
Lockport, 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

Related Articles