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

Citizens Bank - Penfield Road/Tops
585-383-1580
1601 Penfield Rd
Rochester, NY
Barry York Inc
(716)461-0700
180 Linden Oaks
Rochester, NY
Mr. Gregory Lee Schaffer (RFC®), CFP
585-621-3300
3205 Mount Read Blvd.
Rochester, NY
American General Financial Services
(585)671-3390
1900 Empire Boulevard
WEBSTER, NY
Premium Mortgage Corp
(585) 241-0000
2541 Monroe Ave
Rochester, NY
Citizens Bank - Chili Center
585-247-0900
800 Paul Road
Rochester, NY
Bank of America - Ridge Rd West
800.432.1000
2450 Ridge Rd West
Rochester, NY
Powell Insurance
(585)742-3333
6385 State Route 96
Victor, NY
Fairport Savings Bank - Mortgage Line
(585)223-7043
45 South Main Street
FAIRPORT, NY
Home Town Funding Inc
(585) 385-2370
63 Monroe Ave Ste A
Pittsford, 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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