Green Mortgages Rensselaer 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 Rensselaer.

Local Companies

Bank of America - 69 State Street
800.432.1000
69 State St
Albany, NY
Accu Data Search
(518)782-0170
621 Columbia Street Extension
Latham, NY
Commercial Mortgage Network
(518)272-3814
200 Broadway
TROY, NY
Berkshire Capital
(518)477-5181
4 Springhurst Drive
EAST GREENBUSH, NY
Continental Home Loans Inc
(518) 250-5786
11 Century Hill Dr
Latham, NY
Citizens Bank - Clifton Park / Hannaford
518-373-0473
9 Clifton Country Road
Clifton Park, NY
Capitaland Abstract Co Inc
(518)463-3923
90 State Street Suite 1100
Albany, NY
HSBC Mortgage Corporation USA
(518)862-9340
Washington Avenue Extension Pine West
ALBANY, NY
Capital Region Funding
(518)218-7500
210 Washington Avenue Ex
ALBANY, NY
Adirondack Funding Services
(518)347-1757
1380 Wendell Ave
SCHENECTADY, NY

Provided By:


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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