Green Mortgages Mastic 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 Mastic.

Local Companies

Brookhaven Agency Inc
(631)941-4113
150 Main Street
East Setauket, NY
Mr. Albert F. Coletti (RFC®), CHFC, CLU
631 979 6161 x102
P.O. Box 728
Smithtown, NY
Brightline
631-234-8862
Islandia, NY
Regency Financial
(866)441-4433
550 North Country Road
SAINT JAMES, NY
Teachers Federal Credit Union
(631) 698-7000
2410 N Ocean Ave
Farmingville, NY
TD Bank
(631) 289-3066
1806 Medford Avenue (Route 112)
Melville, NY
JOSEPH CONBOY
P. O. BOX 449
SHOREHAM, NY
Mr. Richard A. Fallica (RFC®), CEP
631 979 6161
P.O. Box 728
Smithtown, NY
Tristar Capital Funding
(631)724-0001
17 Beau Jol Ct
NESCONSET, NY
Ambiance Funding Inc.
(631)345-9363
301 Fairview Circle
MIDDLE ISLAND, NY
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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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