Green Mortgages New 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 New City.

Local Companies

TD Bank
201-934-1267
1 Interstate Shopping Center
Ramsey, NJ
Chase Bank
(914) 251-3302
2900 Westchester Avenue
Purchase, NY
Gail S Finger
(845)734-4400
3566 Crompond Rd
Cortlandt Manor, NY
Mr. Jonathan P. Delo (RFC®), CFP
845 893 0073
200 Business Park Dr Ste 308
Armonk, NY
Preferred Mortgage Services
(914)779-0700
8 Depot Square
TUCKAHOE, NY
Chase Bank
(914) 835-4440
402 Halstead Ave
Harrison, NY
Bank of America - Ridgefield Park
800.432.1000
264 Main Street
Ridgefield Park, NJ
Oritani Savings Bank
(973)790-8470
460 Chamberlain Avenue
Paterson, NJ
Jared Cutler
611 Pondside Drive
White Plains, NY
Mr. Salim George Salloum (RFC®), MBA
937 389 9593
35 Teak Rd
Wayne, NJ
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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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