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

Albanese Frank Attorney
(607)272-5212
401 East State Street Gateway Center Ste 403
Ithaca, NY
Tompkins County Trust Company
(607)844-8282
North Street Extension
DRYDEN, NY
Fleet Private Clients Group
(800)266-3085
304 Elmira Road
ITHACA, NY
Atlantic Mortgage Banking
(607)273-1602
320 North Aurora Street
ITHACA, NY
Evolve Bank & Trust
(607) 319-4668
200 E Buffalo St Ste 301A
Ithaca, NY
Citizens Bank - Ithaca
607-272-3731
408 Elmira Avenue
Ithaca, NY
Consumer Marketing Service
(607)273-7425
415 North Tioga Street
Ithaca, NY
The First National Bank of Groton
(315)497-2200
41 South Main Street
MORAVIA, NY
Citifinancial
(607)756-2848
3944 State Route 281
CORTLAND, 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