Green Mortgages Fredonia 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 Fredonia.

Local Companies

Eckstorm Ruth T Insurance
(716)673-9197
192 East Main Street
Fredonia, NY
Farmers Production Credit Assoation
(716)753-2144
28 East Chautauqua Street
Mayville, NY
Richmond Insurance Agency Inc.
(716)326-4344
27 E Main St
Westfield, NY
Lake Shore Savings
(716)673-9555
30 East Main Street
FREDONIA, NY
Farmers'' Production Credit Assoation
(716)753-2144
28 East Chautauqua Street
MAYVILLE, NY
Community Bank Na Fredonia Dunkirk Office
(716)672-2144
3909 Vineyard Drive
Dunkirk, NY
Great Lakes Abstract
(716)673-1100
1 Park Place
Fredonia, NY
Community Bank Na Silver Creek Office
(716)934-2628
228 Central Avenue
Silver Creek, NY
Twinstar Mortgage Inc
(716)672-8702
84 East Main Street
FREDONIA, NY
Franklin Note & Mortgage Co.
(716)934-3181
209 Central Ave
SILVER CREEK, 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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