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

Jay Tee Insurance
(631)231-3200
1655 5th Avenue
Bay Shore, NY
JOSEPH CONBOY
P. O. BOX 449
SHOREHAM, NY
Mr. Richard A. Fallica (RFC®), CEP
631 979 6161
P.O. Box 728
Smithtown, NY
Shore To Shore Mortgage Broker Inc
(631)474-8080
5070 Nesconset Highway
PORT JEFFERSON STATION, NY
American Home Mortgage Holding Corporation
(631)758-1440
57 East Main Street
PATCHOGUE, NY
HSBC Bank
1.800.975.HSBC (4722)
2 Mi E Of W. Floyd Pkwy 1718 Montauk Hwy
Mastic, NY
Suffolk County National Bank Consumer Loan
(631)208-2222
4 West 2nd Street
Riverhead, NY
Mr. Albert F. Coletti (RFC®), CHFC, CLU
631 979 6161 x102
P.O. Box 728
Smithtown, NY
Stonington Mortgage Corp
(631)969-1437
480 Pine Acres Blvd
BRIGHTWATERS, NY
Coastal Home Funding Inc
(631)698-2691
3680 Route 112
CORAM, 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