Green Mortgages Schenectady 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 Schenectady.

Local Companies

TD Bank
518-664-5129
5 Park Plaza
Mechanicville, NY
Edward M. Sossner Esquire
(518)463-3600
350 Northern Blvd Ste 102
Albany, NY
Coldwell Banker Commercial Prime Properties
(518)785-9000
621 Columbia Street
COHOES, NY
Credit One Mortgage CO
(518)371-4002
23 Executive Park Drive
CLIFTON PARK, NY
Adirondack Funding Services
(518)347-1757
1380 Wendell Ave
SCHENECTADY, NY
HSBC Bank
1.800.975.HSBC (4722)
Colonie Center/Sand Creek 95 Wolf Rd
Albany, NY
Consumer Marketing Services Inc
(518)426-3250
1 Columbia Place
Albany, NY
Global Underwriters
(518)877-8557
313 Ushers Rd
Clifton Park, NY
Citifinancial
(518)383-3068
15 Park Avenue
CLIFTON PARK, NY
Albany Molecular Research
(518)257-2013
1 University Place Suite 17
RENSSELAER, 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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