Green Mortgages Syracuse 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 Syracuse.

Local Companies

Citizens Bank - DeWitt
315-449-3019
6770 East Genesee Street
Fayetteville, NY
Bank of America - Warren Street
800.432.1000
440 South Warren Street
Syracuse, NY
Americu Credit Union
800-388-2000
Liverpool, NY
Homestead Funding Corp
(315) 698-1610
8763 Brewerton Rd
Brewerton, NY
Funding Source Llc
(315) 434-9292
906 Spencer St
Syracuse, NY
Chase Bank
(315) 656-4183
249 N Main St
Minoa, NY
Bank of America - North Plaza
800.432.1000
3600 Brewerton Rd
North Syracuse, NY
Rmsco
(315)448-9000
115 Continuum Dr
Liverpool, NY
SECNY Federal Credit Union Mortgage Dept
(315)638-7061
2235 Downer Street Rd
BALDWINSVILLE, NY
Syracuse Securities Inc
(315) 424-0218
1010 James St
Syracuse, 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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