Green Mortgages Watervliet 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 Watervliet.

Local Companies

Bank of America - Schenectady
800.432.1000
645 Nott St
Schenectady, NY
Monroe Title Insurance Corporation
(518)346-7453
620 State Street
Schenectady, NY
Northgate Funding
(518)690-2021
621 Columbia
ALBANY, NY
Citifinancial
(518)783-6894
515 Troy Schenectady Road
LATHAM, NY
Ameriquest Mortgage Company
(518)786-9961
24 Century Hill Drive
LATHAM, NY
Bank of America - Glenville
800.432.1000
200 Saratoga Road
Scotia, NY
Mansfield And North Corporation
(518)383-9423
1 Barney Road
Clifton Park, NY
North Country Insurance Agency
(518)374-0555
1925 Curry Road
Schenectady, NY
Fleet Bank
(518)477-1222
501 Columbia Tpke
EAST GREENBUSH, NY
Citifinancial
(518)357-9761
1400 Altamont Avenue
SCHENECTADY, 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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