Green Mortgages Selden 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 Selden.

Local Companies

Elite Abstract
(631)981-8300
4976 Expressway Dr
Ronkonkoma, NY
JOSEPH CONBOY
P. O. BOX 449
SHOREHAM, NY
Mr. Albert F. Coletti (RFC®), CHFC, CLU
631 979 6161 x102
P.O. Box 728
Smithtown, NY
Southport Funding
(631)363-7400
12 Corey Avenue
BLUE POINT, NY
Genesis National Mortgage Corporation
(631)261-1800
35 Laurel Road
EAST NORTHPORT, NY
Citizens Bank - Holbrook SS
631-563-6862
5701 Sunrise Highway
Holbrook, NY
Jeffrey Lewis, CFP, ChFC
7 White Deer Court
Huntington, NY
Mr. Michael H. Fliegelman (RFC®), CHFC, CLU
631 806 3568
5 Harborfields Ct
Greenlawn, NY
Mr. Richard A. Fallica (RFC®), CEP
631 979 6161
P.O. Box 728
Smithtown, NY
M & T Mortgage Corporation
(631)501-0123
401 Broadhollow Road
MELVILLE, NY
Data Provided by:
    

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

Related Articles
- Safeguarding Against Foreclosure Selden NY
A budget creates a structure that prioritizes your monthly income so that you spend your money on what is most important. It protects you from frittering away your cash on whims and ending up short on the items that are critical, like your monthly mortgage payment.
- How to Avoid Foreclosure by Knowing Your Mortgage Type Selden NY
- How to Understand a N.I.N.J.A. Mortgage Selden NY
- Reverse Mortgage Selden NY
- Flexible Mortgage For Self Employed Selden NY
- How to Talk to Mortgage Lenders Selden NY
- About Buying a Foreclosure Property Selden NY
- Adjustable Rate Mortgage Selden NY
- Hidden Costs of Foreclosures Selden NY