Green Mortgages Gloversville 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 Gloversville.

Local Companies

Bank of America - Johnstown
800.432.1000
51 West Main St
Johnstown, NY
Consumer Marketing Services Inc
(518)736-4658
223 East Main Street
Johnstown, NY
Yale St. Funding
(518)843-8698
8 Mohawk Pl
AMSTERDAM, NY
Hometown Mortgage
(518)843-5316
4193 State Highway 30
AMSTERDAM, NY
Allied Mortgage Services
(518)527-7982
6 Riverside Drive
FULTONVILLE, NY
Citizens Bank - Amsterdam
518-842-3379
4883 State Highway 30
Amsterdam, NY
Dicksonrealty
(518)883-8661
22 West Main Street
Broadalbin, NY
City National Bank & Trust Co - Johnstown Office
518-762-1998
Johnstown, NY
Trustco Bank
(518)673-2012
211 Erie Boulevard
CANAJOHARIE, NY
City National Bank
(518)773-7911
52 North Main Street
GLOVERSVILLE, 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

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