Green Mortgages Watertown 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 Watertown.

Local Companies

HSBC Bank
1.800.975.HSBC (4722)
Off Rt 11 Near Ft Drum 8489 South Main St
Evans Mills, NY
Carthage Savings And Loan Association
(315)779-9775
146 Arsenal Street Suite 11
Watertown, NY
Compass Mortgage Inc
315-788-7100
Watertown, NY
Household Finance Corporation
(315)788-8600
21216 Pioneer Plaza Drive
WATERTOWN, NY
Northern Federal Credit Union
(315) 222-6317
120 Factory St
Watertown, NY
HSBC Bank
1.800.975.HSBC (4722)
Village Hall 302 State St
Carthage, NY
North Country Cluster Inc
(315)686-5161
209 James St
Clayton, NY
M And T Bank
(315)782-9791
113 Court Street
Watertown, NY
M & T Bank
(315)782-9791
113 Court Street
WATERTOWN, NY
First Rochester Mortgage Corporation
(315)788-7813
19805 Orchard Drive
WATERTOWN, 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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