Green Mortgages Utica 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 Utica.

Local Companies

Bank of America - Rome
800.432.1000
1714 Black River Boulevard
Rome, NY
NBT Bank - Offices
(315)853-5501
1 Kirkland Avenue Suite 1
CLINTON, NY
NBT Bank
(315)891-7502
12 North Main Street
MIDDLEVILLE, NY
First Source Federal Credit Union
(315)866-2940
510 West State Street
HERKIMER, NY
M And T Bank
(315) 424-4475
2 Business Park Ct
Utica, NY
HSBC Bank
1.800.975.HSBC (4722)
Colonial Shopping Ctr 131 Oriskany Blvd
Whitesboro, NY
New England Merchants Corp
(315)731-2040
215 Rutger
UTICA, NY
NBT Bank - Offices
(315)797-0698
8549 Seneca Turnpike
NEW HARTFORD, NY
Herkimer County Trust
(315)823-0300
501 East Main Street
LITTLE FALLS, NY
First Pioneer Farm Credit ACA
(315)841-3398
995 Nys Route 12
SANGERFIELD, 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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