Green Mortgages Ithaca 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 Ithaca.

Local Companies

Alliance Bank Na Community Branch Locations Groton Avenue Office
(607)753-3391
1125 State Route 222
Cortland, NY
M And T Bank M And T Mortgage Corporation
(607)273-7111
118 North Tioga Street
Ithaca, NY
Tompkins County Trust Company
(607)594-3338
100 West Main
ODESSA, NY
First National Bank Of Groton
(607)898-5871
161 Main
GROTON, NY
Avco Financial Services of New York Inc
(607)272-8471
401 Elmira Road
ITHACA, NY
Citizens Bank - Cortland / Tops
607-756-2436
3932 State Rt 281
Cortland, NY
Albanese Frank Attorney
(607)272-5212
401 East State Street Gateway Center Ste 403
Ithaca, NY
Real Estate Services
(607)277-8855
204 Cornell Street
Ithaca, NY
The First National Bank of Groton
(315)497-2200
41 South Main Street
MORAVIA, NY
Cfcu Community Credit Union
(607)756-6959
Po Box 149
CORTLAND, 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

Related Articles
- Safeguarding Against Foreclosure Ithaca NY
A budget creates a structure that prioritizes your monthly income so that you spend your money on what is most important. It protects you from frittering away your cash on whims and ending up short on the items that are critical, like your monthly mortgage payment.
- Hidden Costs of Foreclosures Ithaca NY
- How to Talk to Mortgage Lenders Ithaca NY
- Adjustable Rate Mortgage Ithaca NY
- About Buying a Foreclosure Property Ithaca NY
- Flexible Mortgage For Self Employed Ithaca NY
- How to Avoid Foreclosure by Knowing Your Mortgage Type Ithaca NY
- How to Understand a N.I.N.J.A. Mortgage Ithaca NY
- Reverse Mortgage Ithaca NY