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

George H Corwin Agency
(516)477-0041
100 South St
Greenport, NY
R V I Insurance Agency
(631)475-6100
2080 Route 112
Medford, NY
JOSEPH CONBOY
P. O. BOX 449
SHOREHAM, NY
The New York Mortgage Co LLC
(631)537-4430
2405 Main Street
BRIDGEHAMPTON, NY
Par East Mortgage Company
(631)287-7955
97 North Sea Road
SOUTHAMPTON, NY
Chase Bank
(631) 654-2700
115 E Main St
Patchogue, NY
Allstate Insurance Israel Caraballo
(631)289-8700
2265-c Route 112
Medford, NY
Washington Mutualfinancial Center
(631)727-7700
655 Old Country Rd
Riverhead, NY
Ulster Savings Bank
(631)369-2333
633 East Main Street
RIVERHEAD, NY
Suffolk County National Bank - Consumer Loan
(631)208-2222
4 West 2nd Street
RIVERHEAD, 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