Green Mortgages Saratoga Springs 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 Saratoga Springs.

Local Companies

Citizens Bank - Saratoga / Wal-Mart
518-583-9170
16 Old Gick Rd
Saratoga Springs, NY
Kinney Agency Inc
(518)638-8205
3027 State Route 4
Hudson Falls, NY
Saratoga Funding And Development Co
(518)583-4866
12 Cedarcrest Dr
Saratoga Springs, NY
Alliance Mortgage Banking Corporation
(518)583-1177
376 Broadway
SARATOGA SPRINGS, NY
1St Priority Mortgage Inc.
(518) 348-6900
1547 Route 9
Clifton Park, NY
Citizens Bank - Halfmoon / Wal-Mart
518-373-2339
1549 Route 9
Halfmoon, NY
Legacy Land Title Llc
(518)371-8166
56 Clifton Country Rd
Clifton Park, NY
Nbt Bank Branches
(518)584-5338
402 Maple Avenue
Saratoga Springs, NY
GMAC Mortgage
(518)584-7637
358 Broadway
SARATOGA SPRINGS, NY
All Points Home Services
(518)581-9558
398 Broadway
SARATOGA SPRINGS, NY

Provided By:


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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