Green Mortgages Troy 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 Troy.

Local Companies

Northeast Title And Abstract Co
(518)458-8400
84 Everett Road
Albany, NY
Consumer Marketing Services Inc
(518)395-9492
510 State Street # 514
Schenectady, NY
C T X Mortgage Company
518-347-1383
Schenectady, NY
Main Line Mortgage
(518)456-1997
251 New Karner Road
ALBANY, NY
Freedom Mortgage Corporation
(518) 348-4056
21 Corporate Dr
Clifton Park, NY
Citizens Bank - Delmar
518-439-0102
180 Delaware Avenue
Delmar, NY
Casswood Insurance Agency
(516)373-8700
58 Clifton Country Rd
Clifton Park, NY
Monroe Title Insurance Corporation
(518)346-7453
620 State Street
Schenectady, NY
Provantage Funding Corporation
(518)373-0212
28 Corporate Drive
CLIFTON PARK, NY
American Eagle Mortgage
(518)439-5200
211 Delaware Av
DELMAR, 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.

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