Green Mortgages Riverhead 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 Riverhead.

Local Companies

TD Bank
(631) 289-3066
1806 Medford Avenue (Route 112)
Melville, NY
Paradise Brokerage
(631)698-6618
3632 Route 112
Coram, NY
JOSEPH CONBOY
P. O. BOX 449
SHOREHAM, NY
Family Mortgage Network Inc
(631)744-7900
125 Route 25A
ROCKY POINT, NY
Americana Mortgage Group Inc
(631)283-2900
1673 County Road 39
SOUTHAMPTON, NY
Chase Bank
(631) 345-0617
700 Patchogue-yaphank Rd, Ste 90
Medford, NY
Bank of America - Patchogue
631.475.3021
47 West Main St
Patchogue, NY
S And S Brokerage Specialists Inc
(631)758-4500
2799 Route 112
Medford, NY
Camelot Funding Corporation
631-289-2525
Patchogue, NY
Asean Capital Inc
(631)289-2670
31 West Main Street Suite 212
PATCHOGUE, 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