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

Capital One
631-874-2153
485 County Road 111
Manorville, NY
Washington Mutual Bank Bohemia
(631)588-1905
3755 Veterans Memorial Hw
Bohemia, NY
Ocean Capital Associates Inc.
(631)288-8600
179 Mountauk Highway Box 5
Remsenburg, NY
Mr. Albert F. Coletti (RFC®), CHFC, CLU
631 979 6161 x102
P.O. Box 728
Smithtown, NY
Hartford Funding Ltd
(631) 588-9300
2040 Ocean Ave
Ronkonkoma, NY
Chase Bank
(631) 451-1926
295 Middle Country Rd, #115
Selden, NY
TD Bank
(631) 588-1564
474 Portion Road
Lake Ronkonkoma, NY
National Insurance Brkge
(631)273-4242
125 Wireless Blvd
Hauppauge, NY
JOSEPH CONBOY
P. O. BOX 449
SHOREHAM, NY
Mr. Richard A. Fallica (RFC®), CEP
631 979 6161
P.O. Box 728
Smithtown, 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