With green lending programs that spur energy efficient construction in the multifamily sector, Fannie Mae has been supporting environmentally friendly projects for several years.
The lender’s Green Rewards Program can also be used to defray the cost of installing solar panels on multifamily properties including affordable housing projects. Fannie Mae’s Multifamily Green Rewards mortgage loan financing program is for borrowers who have elected to reduce energy and water usage of their property by a combined 30%. At least 15% of the savings must be attributed to energy savings.
The Green Rewards program already offers several benefits, such as lower interest rates, up to 5% more loan proceeds, and free Energy and Water Audit Reports. Fannie Mae recently expanded the program to include a free technical solar assessment of the property for those interested in adding solar power generation.
Fannie Mae, along with Freddie Mac and HUD, offer increasingly competitive green lending products for borrowers, lenders, and anyone involved in the acquisition or re-financing of multifamily properties.
Related Stories
| Jun 12, 2013
Green Globes update complies with federal sustainability standards
The Green Building Initiative has updated its green building certification program to comply with the U.S. government’s standards for sustainability in federal buildings.
| Jun 12, 2013
Green Globes update complies with sustainability standards
The Green Building Initiative has updated its green building certification program to comply with the U.S. government’s standards for sustainability in federal buildings.
| May 31, 2013
OSHA will propose to extend crane operator certification compliance date
The Occupational Safety and Health Administration (OSHA) says it will propose to extend the compliance date for the crane operator certification requirement by three years to Nov. 10, 2017.
| May 31, 2013
GIS should guide zoning decisions in states hit hard by Hurricane Sandy, says expert
As New York, New Jersey and other states hit hard during Superstorm Sandy begin their long road to recovery, the decisions they make on how to rebuild are crucial to determining how well they will weather the next big storm.
| May 31, 2013
Bond package to fund $2.7 billion in new university construction dies in Texas Legislature
A $2.7 billion state bond package that would have financed expansion projects at more than a half-dozen universities in Texas died on the final day of the legislative session.
| May 31, 2013
Tax break proposal for $1.5 billion expansion of Minnesota’s Mall of America advances
The Minnesota Legislature approved tax breaks worth $250 million for a $1.5 billion project that would double the size of the Mall of America in Bloomington, Minn.
| May 31, 2013
Debate in the Northwest over how to apply lessons of net-zero construction in codes
Success in constructing net-zero homes in the Northwest has sparked debate over how far green codes should go.
| May 28, 2013
Fire Chiefs Assn., IBHS call for federal legislation to encourage states to adopt, enforce building codes
The International Association of Fire Chiefs (IAFC) and the Insurance Institute for Business & Home Safety (IBHS) are asking Congress to enact the Safe Building Code Incentive Act (SBCIA), which provides financial incentives for states to adopt and enforce building codes.
| May 28, 2013
Proposal to water down Las Vegas green building code draws criticism
A proposed bill before the Las Vegas City Council would allow any building built before 2009 undergoing a renovation to only have to meet the energy code requirements at the time of initial construction, not the current, stricter guidelines.
| May 28, 2013
Mazria: ‘No need for new power plants to meet growth in buildings sector’
A new analysis of federal data shows that the U.S. buildings sector has made enormous strides in efficiency over the last six years—potentially eliminating the need to build any new power plants to support growth in the sector through 2030.
