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
Codes and Standards | Dec 10, 2020
Test method for vertical fenestration installation procedures updated
FGIA issues first update for document created in 2005.
Codes and Standards | Dec 10, 2020
Updated EPDs for Polyiso Roof and Wall Insulation; EPD for Polyiso High-Density Cover Boards published
Cover Boards EPD is an industry first.
Codes and Standards | Dec 9, 2020
Newly formed Rainscreen Association aims to be recognized authority on rainscreen assemblies
Will address innovations in material performance and building designs.
Codes and Standards | Dec 9, 2020
Investors want building resiliency plans and risk mitigation practices
Owners should assess risk, insurance coverage, and ability to withstand disasters.
Codes and Standards | Dec 4, 2020
OSHA cites more than 200 employers for COVID-19 violations
Agency releases guidance on lessons learned from pandemic inspections.
Codes and Standards | Dec 1, 2020
Pandemic spurs nearly 16 million people to move from major cities
Most of the movement seems permanent.
Codes and Standards | Nov 30, 2020
USGBC ready to catalyze LEED Positive future
New programs, updates will spur shift to regenerative strategies.
Codes and Standards | Nov 30, 2020
Updated spec for self-adhering flashing surrounding exterior fenestration products released
FGIA document was last updated in 2013.
Codes and Standards | Nov 30, 2020
Finalized 2021 Energy Code leaves out future-proofing provision
Appeals process nixed requirement for residential electrification readiness.
Codes and Standards | Nov 23, 2020
GBCI turns over GRESB ownership to global investment firm
Organization assesses sustainability performance of real estate and infrastructure portfolios and assets.
