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 - Whitestown
800.432.1000
34 Oriskany Boulevard
Whitesboro, NY
Leatherstocking Abstract And Title Corporation
(315)866-6503
Po Box 606
Herkimer, NY
The Homeownership Center
(315)724-4197
1611 Genesee Street
UTICA, NY
Citifinancial
(315)768-8141
4654 Commercial Drive
NEW HARTFORD, NY
First Source Federal Credit Union
(315) 735-8571
4451 Commercial Dr
New Hartford, NY
Bank of America - Genesee Street
800.432.1000
268 Genesee St
Utica, NY
Bank of America - East Utica
800.432.1000
1100 Mohawk St
Utica, NY
Rome Savings Bank Branch Ofc West Branch
(315)334-1300
1300 Erie Boulevard West
Rome, NY
Partners Trust Bank
(315)768-3000
150 Central Avenue
ILION, NY
Adirondack Bank
(315)736-6169
135 Oriskany Street West
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

Related Articles
- Adjustable Rate Mortgage Utica NY
Adjustable rate mortgages (also known as ARMs) are one of the most common types of mortgages for homeowners. Adjustable rate mortgages have an adjusting interest rate that is tied to an established index. Your monthly payments will actually vary based upon several factors that are actually beyond your control. The decision between an adjustable rate mortgage and a fixed rate mortgage is a very important one depending upon your financial circumstances. The decision, like any major life decision, requires careful thought and consideration.
- Safeguarding Against Foreclosure Utica NY
- Hidden Costs of Foreclosures Utica NY
- About Buying a Foreclosure Property Utica NY
- Reverse Mortgage Utica NY
- How to Talk to Mortgage Lenders Utica NY
- How to Avoid Foreclosure by Knowing Your Mortgage Type Utica NY
- How to Understand a N.I.N.J.A. Mortgage Utica NY
- Flexible Mortgage For Self Employed Utica NY