Green Mortgages Smithtown 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 Smithtown.

Local Companies

Washington Mutual Bank Locations Seaford
(516)783-0426
3890 Merrick Road
Seaford, NY
JOSEPH CONBOY
P. O. BOX 449
SHOREHAM, NY
Mr. Michael J. Goldsmith (RFC®), LUTCF
516 541 0111
549 Broadway Street Suite 201
Massapequa, NY
Mr. Richard A. Fallica (RFC®), CEP
631 979 6161
P.O. Box 728
Smithtown, NY
D A R T Capital Mortgage Corporation
(631)770-4000
535 Broadhollow Road
MELVILLE, NY
Bank of America - San Remo
800.432.1000
1209 Saint Johnland Rd
Kings Park, 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. Albert F. Coletti (RFC®), CHFC, CLU
631 979 6161 x102
P.O. Box 728
Smithtown, NY
Nations Financial
(631)863-3300
738 Smithtown Bypass
SMITHTOWN, 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