Green Mortgages Suffern 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 Suffern.

Local Companies

Bank of America - McLean Ave
914.776.6400
928 McLean Ave
Yonkers, NY
Legacy Hudson Title Llc
(973)956-1155
174 Lenox Av
Paterson, NJ
Jared Cutler
611 Pondside Drive
White Plains, NY
Rtm Mortgage
(973)227-9096
387 Passaic Avenue
Fairfield, NJ
Carteret Mortgage Corporation
(845)573-9780
150 Liberty Parkway
SPRING VALLEY, NY
TD Bank
201-488-8118
540 River Street
Hackensack, NJ
TD Bank
973-857-6801
85-107 Pompton Avenue
Cedar Grove, NJ
Pelkofsky Insurance
(845)783-9828
562 State Route 17m
Monroe, NY
Mr. Salim George Salloum (RFC®), MBA
937 389 9593
35 Teak Rd
Wayne, NJ
Home Buyers Mortgage
(201)439-0700
51 Legion Drive
Bergenfield, NJ
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