Green Mortgages Lancaster 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 Lancaster.

Local Companies

Citizens Bank - Jefferson-Riley/Tops
716-885-2378
1275 Jefferson Ave
Buffalo, NY
Bank of America - Delaware Avenue
800.432.1000
633 Delaware Ave
Buffalo, NY
American General Financial Services
716-694-3008
Tonawanda, NY
Franklin Bank SSB
(716)873-3221
3200 Elmwood Av
BUFFALO, NY
Advisor Mortgage Llc
(716)447-0676
15 La Salle Av
BUFFALO, NY
HSBC Bank
1.800.975.HSBC (4722)
Across From Airport Plaza 4237 Union Rd
Cheektowaga, NY
Bank of America - Orchard Park
800.432.1000
6529 East Quaker St
Orchard Park, NY
Scott Danahy Naylon
(716)634-2100
300 Spindrift Dr
Amherst, NY
Mainstream Funding Network Inc.
(716)565-1500
5586 Main Street
BUFFALO, NY
American Mortgage and Management Consultants
(716)696-3800
345 Franklin Street
BUFFALO, 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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