Green Mortgages Long Island City 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 Long Island City.

Local Companies

Allstate Insurance Joseph F Coluccio
(718)266-5900
238 Avenue U
Brooklyn, NY
V And J Consultants Ltd
(718)351-3070
622 Midland Av
Staten Island, NY
Mr. Monroe M. Diefendorf (RFC®), CFP, CHFC, CLU
516 759 3900
152 Forest Ave.
Locust Valley, NY
All States Financial Funding
201-883-1400
Hackensack, NJ
Franklin 1st Financial
(516)479-5777
329 Hempstead Turnpike
WEST HEMPSTEAD, NY
TD Bank
(973) 575-1669
600 Passaic Avenue
West Caldwell, NJ
Icity Home Loans
(212)631-4242
313 E 14th St Unit 8
New York, NY
Helen Beichel
1133 Park Place
Brooklyn, NY
CFIC Home Mortgage
201-433-0100
Jersey City, NJ
Full Spectrum Lending
(516)832-4200
990 Stewart Avenue
GARDEN CITY, NY
Data Provided by:
    

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