Green Mortgages Rochester 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 Rochester.

Local Companies

Chase Bank
(585) 232-8016
520 Portland Ave
Rochester, NY
Bank of America - Northgate
800.432.1000
3800 Dewey Ave
Rochester, NY
Vail Agency Inc
(585)889-4650
3229 Chili Ave
Rochester, NY
National City Mortgage
(716)389-6182
190 Linden Oaks Drive
ROCHESTER, NY
Devere Capital Corp
(315)986-8045
1146 Route 31
MACEDON, NY
HSBC Bank
1.800.975.HSBC (4722)
Chili & Gardiner 532 Chili Ave
Rochester, NY
Citizens Bank - Buffalo Rd/Tops
585-247-5670
2345 Buffalo Rd
Rochester, NY
Allstate Insurance Charles D Lovall
(585)227-2873
2080 Ridge Rd W
Rochester, NY
Mr. Gregory Lee Schaffer (RFC®), CFP
585-621-3300
3205 Mount Read Blvd.
Rochester, NY
First Residential Lending Corporation
(585)214-0500
120 Allens Creek Road
ROCHESTER, 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