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 - Flushing Main Street
718.445.1702
3912 Main Street
Flushing, NY
First Lenders
(973)746-4600
22 S Park Street
Montclair, NJ
Helen Beichel
1133 Park Place
Brooklyn, NY
Guaranteed Home Mortgage
(516)887-6833
142 Lakeview Avenue
LYNBROOK, NY
Coldwell Banker Five Star Realty Corporation
(718)253-0777
1733 Flatbush Avenue
BROOKLYN, NY
Wells Fargo - Third Avenue & 42Nd Street
212-692-5060
666 3Rd Ave
New York, NY
The Real Estate Group Llc
(973)313-0234
4 Burnett Ave
Maplewood, NJ
Allstate Insurance Robert J Gipp
(516)594-3400
429 Merrick Rd
Oceanside, NY
Mr. Monroe M. Diefendorf (RFC®), CFP, CHFC, CLU
516 759 3900
152 Forest Ave.
Locust Valley, NY
E.R.A. Mystic Homes Inc
(718)659-1055
9108 Liberty Avenue
OZONE PARK, 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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