Green Mortgages East Aurora 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 Aurora.

Local Companies

Bank of America - Depew Transit
800.432.1000
6041 Transit Rd
Depew, NY
Commonwealth Land Title Insurance Company
(716)853-6800
37 Franklin Street Suite 100
Buffalo, NY
Kreiner Company Inc
(716)632-5222
377 N Oak St
Buffalo, NY
American General Financial Services
(716)677-0413
1881 Ridge Road
BUFFALO, NY
Alden State Bank
(716)937-3381
13216 Broadway Street
ALDEN, NY
Bank of America - Williamsville South
800.432.1000
5529 Main St
Williamsville, NY
Bank of America - Williamsville
800.432.1000
7864 Transit Rd
Williamsville, NY
Joanne Burton Insurance
(716)834-0637
36 Hopkins Rd
Buffalo, NY
Robar General Funding Corporation
(716)648-2950
6308 Boston State Road
HAMBURG, NY
Alexis Funding
(716)632-7674
8600 Main Street Suite 1
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.

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