Green Mortgages Ridgewood 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 Ridgewood.

Local Companies

Bank of America - Arverne
800.432.1000
6603 Beach Channel Dr
Arverne, NY
Chase Home Finance
(973)783-2072
475 Bloomfield Avenue
Montclair, NJ
Helen Beichel
1133 Park Place
Brooklyn, NY
A To Z Mortgage Corp./Atara Hirsch-Twersky, Esq.
212-721-7030
New York, NY
Mortgage Central Of NY Inc
(718)351-4445
900 South Av
STATEN ISLAND, NY
TD Bank
201-935-6601
357 Paterson Avenue
Wallington, NJ
Linwood Insurance Agency Inc
(908)523-9200
107 South Wood Av
Linden, NJ
Allstate Insurance Valentine Whiteman
(212)608-7955
198 Broadway Suite 402
New York, NY
Mr. Monroe M. Diefendorf (RFC®), CFP, CHFC, CLU
516 759 3900
152 Forest Ave.
Locust Valley, NY
Allstate Insurance Hj Duch
(201)339-5325
717 Broadway
Bayonne, NJ
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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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