Green Mortgages New Paltz 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 Paltz.

Local Companies

Wells Fargo - New Paltz
845-255-6600
29 Main St
New Paltz, NY
Citizens Bank - Poughkeepsie SS
845-431-6870
2540 South Rd.
Poughkeepsie, NY
John J. Oconnor Agency
(845)569-1322
316 Blooming Grove Tpke
New Windsor, NY
Ulster Savings
(845)473-3500
2680 South Road
POUGHKEEPSIE, NY
C A P Mortgage
(845)691-8055
199 State Route 299
HIGHLAND, NY
Bank of America - Montgomery
800.432.1000
21 Union St
Montgomery, NY
Wells Fargo - Kingston
845-331-0254
235 Fair St
Kingston, NY
Ulster Savings Bank Branch Offices
(845)255-5470
226 Main Street
New Paltz, NY
Johnjlease Title Agency
(845)566-7600
299 North Plank Rd
Newburgh, NY
Countrywide Funding
(845)298-0547
1525 Route 9
WAPPINGERS FALLS, 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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