Green Mortgages Olean 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 Olean.

Local Companies

First Tier Bank And Trust
(585)968-5000
27 Water Street
Cuba, NY
Hunter Agency Inc
(716)372-3624
115 1/2 N Union St
Olean, NY
Fenton Ned Insurance Agency
(716)945-1100
170 Clinton Street
Salamanca, NY
Northwest Savings Bank
(814)887-5522
428 West Main Street
SMETHPORT, PA
Beneficial Consumer Discount Company
(814)368-4186
57 Main Street
BRADFORD, PA
First Tier Bank And Trust
(716)373-4343
60 West Main Street
Allegany, NY
M And T Bank Area Branches Ellicottville
(716)699-2341
3 Washington Street
Ellicottville, NY
Iroquois Group
(716)373-5511
406 W State St
Olean, NY
Burns And Burns Assoc Inc
(814)368-1761
57 Rear Main St
Bradford, PA
F I Group Inc
(716)945-3500
107 Main Street
SALAMANCA, 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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