Green Mortgages Spencerport 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 Spencerport.

Local Companies

Bank of America - Irondequoit
800.432.1000
1381 E. Ridge Rd
Rochester, NY
Independent Network
(716)248-2050
3700 East Ave
Rochester, NY
Webtitle 2000
(585)454-4770
2024 West Henrietta Road
Rochester, NY
Fleet Private Clients Group
(716)546-9310
1 East Ave
ROCHESTER, NY
Citibank (New York State)
(585)247-0160
1955 Buffalo Road
ROCHESTER, NY
HSBC Bank
1.800.975.HSBC (4722)
Webster Plaza 980 Ridge Road East
Webster, NY
Bank of America - Clover-Monroe
800.432.1000
2830 Monroe Ave
Rochester, NY
Ins Agency Todaydt
(716)697-0160
2290 East Ave
Rochester, NY
Mr. Gregory Lee Schaffer (RFC®), CFP
585-621-3300
3205 Mount Read Blvd.
Rochester, NY
Devere Capitol
(585)248-3400
11 State Street
PITTSFORD, 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

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