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

Brisotti And Silk Worth Inc
(631)725-3013
Division
Sag Harbor, NY
JOSEPH CONBOY
P. O. BOX 449
SHOREHAM, NY
Washington Mutual
(631)399-3101
425 William Floyd Parkway
SHIRLEY, NY
Fundamental Mortgage
(631)289-3035
440 Waverly Av
PATCHOGUE, NY
East End Mortgage
(631)477-0849
124 Front Flr 2
GREENPORT, NY
Chase Bank
(631) 654-2700
115 E Main St
Patchogue, NY
Rvision
(516)744-7404
37 Dogwood Rd
Rocky Point, NY
Washington Mutual - Bank Locations- Patchogue
(631)447-8078
499 North Service Road Suite 83
PATCHOGUE, NY
James F Preston CPA PC
(631)734-5330
32645 Main Road
CUTCHOGUE, NY
Financial Equities
(631)447-6911
175 Oak Street
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

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