Green Mortgages East Elmhurst 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 Elmhurst.

Local Companies

Abbott Insurance Agency
(201)933-3333
705 Ridge Road
Lyndhurst, NJ
Bawa Real Estate And Ny Inc
(718)577-0200
10809 101st Ave
South Richmond Hill, NY
Helen Beichel
1133 Park Place
Brooklyn, NY
Mr. Monroe M. Diefendorf (RFC®), CFP, CHFC, CLU
516 759 3900
152 Forest Ave.
Locust Valley, NY
NACA
(212)704-9974
65 West 37th Street
NEW YORK, NY
Bank of America - Adams Street
973.690.5988
70 Adams St
Newark, NJ
Washington Mutualfinancial Center
(212)772-6242
1520 York Ave
New York, NY
Province Abstract Inc
(718)556-5263
144 Wilson Terr
Staten Island, NY
Jared Cutler
611 Pondside Drive
White Plains, NY
Northeast Mortgage
(718)238-5393
59 Gelston Av
BROOKLYN, NY
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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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