Green Mortgages Patchogue 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 Patchogue.

Local Companies

Bank of America - Lake Grove
800.432.1000
3080 Middle Country Rd
Lake Grove, NY
JOSEPH CONBOY
P. O. BOX 449
SHOREHAM, NY
Mr. Richard A. Fallica (RFC®), CEP
631 979 6161
P.O. Box 728
Smithtown, NY
Eden Mortgage Corp
(631)581-7700
91 Carleton Av
ISLIP TERRACE, NY
All Metro Mortgage
(631)467-5922
321 Dante Ct
HOLBROOK, NY
HSBC Bank
1.800.975.HSBC (4722)
Hans Blvd 395 Portion Rd
Lake Ronkonkoma, NY
Allstate Insurancewalter Skinner
(516)794-1005
2066 Front St
East Meadow, NY
Mr. Albert F. Coletti (RFC®), CHFC, CLU
631 979 6161 x102
P.O. Box 728
Smithtown, NY
Safe Harbor Capital Group
(631)224-4118
130 West Main
EAST ISLIP, NY
CGW Corporation
(631)342-0300
635 Old Willets Path
HAUPPAUGE, 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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