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

Murdock Abstract Corporation
(518)885-8860
40 Mcmaster Street
Ballston Spa, NY
M And T Bank Banking Departments M And T Mortgage Corporation Northway
(518)877-3500
10 Executive Park Drive
Clifton Park, NY
Custom Capital Corp Of Scotia
866-444-8896
Scotia, NY
Clear Financial Solutions
(518)383-9893
1652 Route 9
CLIFTON PARK, NY
Absolute Financial Services Inc
(518)355-8305
251 New Karner Rd Ste 202
ALPLAUS, NY
Bank of America - Saratoga Springs
800.432.1000
27 Division St
Saratoga Springs, NY
Casswood Insurance Agency
(516)373-8700
58 Clifton Country Rd
Clifton Park, NY
Kinney Agency Inc
(518)638-8205
3027 State Route 4
Hudson Falls, NY
NBT Bank
(518)371-0484
225 Guideboard Road
WATERFORD, NY
Alliance Mortgage Banking Corporation
(518)583-1177
376 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.

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