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

Mohawk Valley Abstract Corporation
(315)798-1178
4 North Park Row
Clinton, NY
Partners Trust Bank
(315)768-3000
150 Central Avenue
ILION, NY
Herkimer County Trust Company
(315)867-2550
319 North Main Street
HERKIMER, NY
First Pioneer Farm Credit ACA
(315)841-3398
995 Nys Route 12
SANGERFIELD, NY
Syracuse Securities Inc
(315) 533-7160
7763 Turin Rd
Rome, NY
Citizens Bank - Herkimer
315-866-3290
324 Prospect Street
Herkimer, NY
Rome Savings Bank Branch Ofc West Branch
(315)334-1300
1300 Erie Boulevard West
Rome, NY
NBT Bank - Offices
(315)797-0698
8549 Seneca Turnpike
NEW HARTFORD, NY
First Source Federal Credit Union
(315)735-8571
4451 Commercial Drive
NEW HARTFORD, NY
Adirondack Mortgage Service
(315)733-1848
520 Seneca St
UTICA, 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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