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

P And R Funding
(631)951-0700
118 Carleton Avenue
Central Islip, NY
Select Services Abstract Inc
(631)724-8000
5 Frank
Smithtown, NY
Mr. Albert F. Coletti (RFC®), CHFC, CLU
631 979 6161 x102
P.O. Box 728
Smithtown, NY
USA Liberty Mortgage Inc
(631)567-7040
1180 Lincoln Avenue
HOLBROOK, NY
County Seat Capital
(631)582-8100
434 Old Suffolk Av
CENTRAL ISLIP, NY
Dan Nieroda Jr
(631)968-8184
260 W Main St
Bay Shore, NY
Allstate Insurance John M. Cuenin
(631)758-7225
629 Rte 112 Suite 10
Patchogue, NY
JOSEPH CONBOY
P. O. BOX 449
SHOREHAM, NY
Mr. Richard A. Fallica (RFC®), CEP
631 979 6161
P.O. Box 728
Smithtown, NY
Stonington Mortgage
(631)224-4800
560 Main
ISLIP, 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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