Green Mortgages Penfield 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 Penfield.

Local Companies

Chase Bank
(585) 723-6092
358 Greece Ridge Center Dr
Rochester, NY
Bank of America - Churchville
800.432.1000
38 S. Main St
Churchville, NY
Joseph Sanders Agency Ltd
(716)663-0850
3741 Dewey Ave
Rochester, NY
Riverview Mortgage Corporation
(585)321-0020
370 Summit Point Drive # 1A
HENRIETTA, NY
The Summit Federal Credit Union
(585) 453-7010
100 Marina Dr
Rochester, NY
HSBC Bank
1.800.975.HSBC (4722)
In Country Club Plaza 825 Fairport Road
East Rochester, NY
Citizens Bank - Panorama Plaza
585-586-1231
715 Panorama Trail
Rochester, NY
Georgianna Macdonald Agcy Inc
(585)288-7977
646 Browncroft Blvd
Rochester, NY
Mr. Gregory Lee Schaffer (RFC®), CFP
585-621-3300
3205 Mount Read Blvd.
Rochester, NY
M & T Bank - M & T Mortgage Corp- Banking Departments- M & T Mortgage Corpora
(585)258-8355
255 East Avenue Bsmt
ROCHESTER, 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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