Green Mortgages Elmira 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 Elmira.

Local Companies

Citizens Bank - Consumer Square/Tops
607-796-2217
830 County Rd 64
Elmira, NY
Elmira Savings Bank - Branch Offices
(607)734-3374
930 West Church Street
ELMIRA, NY
Community Bank NA - Corning North
(607)937-5471
331 West Pulteney Street
CORNING, NY
Citizens & Northern Bank - Athens OFC
(570)888-2291
428 South Main Street
ATHENS, PA
American General Financial Services
(607)732-5419
303 North Main Street
ELMIRA, NY
HSBC Bank
1.800.975.HSBC (4722)
Franklin & Eighth Street 712 N Franklin St
Watkins Glen, NY
Allstate Insurance Harry A. Bowers
(607)796-9113
2483 Corning Rd
Elmira, NY
Community Bank NA - Horseheads-Consumer Square
(607)796-6910
830 County Road 64
ELMIRA, NY
Commonwealth Bank A Division of Meridian - Branch Offices- Lawrenceville Of
(570)827-2121
53 Main Street
LAWRENCEVILLE, PA
Citizens & Northern Bank
(570)888-2220
Elmira Street
SAYRE, PA

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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