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

Danny B. Wafer Agency
(607)753-0633
243 1/2 Port Watson St
Cortland, NY
Guardian Loan Company of Massapequa Incorporated
(607)277-6269
1001 West Seneca Street
ITHACA, NY
Community Bank NA
(607)387-7580
105 Main Street
MORAVIA, NY
American General Financial Services
(607)753-3758
3908 State Route 281
CORTLAND, NY
Evolve Bank & Trust
(607) 319-4668
200 E Buffalo St Ste 301A
Ithaca, NY
Bank of America - Ithaca South
607.272.2407
304 Elmira Rd
Ithaca, NY
Real Estate Services
(607)277-8855
204 Cornell Street
Ithaca, NY
Community Bank NA Interlaken
(607)532-8333
8395 Main
INTERLAKEN, NY
Avco Financial Services of New York Inc
(607)272-8471
401 Elmira Road
ITHACA, NY
Cfcu Community Credit Union
(607) 257-8500
1030 Craft Rd
Ithaca, 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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