Green Mortgages Newburgh 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 Newburgh.

Local Companies

Chase Bank
(914) 528-3535
1336 E Main St
Shrub Oak, NY
Suntrust Mortgage Inc New Mortgage Inquiries
(845)692-5554
779 Route 211 West
Middletown, NY
Monahan Title Agency Sneeringerprvst Rdgrve Ttle A
(845)471-5911
313 Main Street
Poughkeepsie, NY
Sullivan Insurance & Financial Services
(845)628-9604
716 Route 6
MAHOPAC, NY
Metlife Bank, National Association
(845) 440-4100
700 Corporate Blvd
Newburgh, NY
Chase Bank
(845) 782-8151
845 Rte 17m, Ste 10
Monroe, NY
TD Bank
845-496-9147
21 E Main Street
West Haverstraw, NY
Bulls Eye Title Services
(845)744-8794
269 Hardenburgh Road
Pine Bush, NY
Wallkill Valley Federal Savings and Loan
(845)895-2051
23 Wallkill Avenue
WALLKILL, NY
Cornerstone Funding CO
(845)562-0066
5020 Route 9W
NEWBURGH, 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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