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 | May 18, 2021
Cross-laminated timber performs better than expected in shear test
Tests conducted in support of new criteria for design of CLT diaphragm.
Codes and Standards | May 17, 2021
Latest Manual on Uniform Traffic Control Devices criticized for not considering bikes, pedestrians
More than a dozen advocacy groups want feds to start over.
Codes and Standards | May 13, 2021
LEED-certified federal buildings don’t use less energy than average
May be due to trade-offs on how score is developed.
Codes and Standards | May 12, 2021
White paper examines how to reduce pathogen transmission in ventilation
Pressure barriers and airflow distribution can be effective in existing buildings.
Codes and Standards | May 11, 2021
Pressure builds on White House to rein in cost of lumber
Spike in prices has added nearly $36,000 to price of average new home.
Codes and Standards | May 11, 2021
Residential codes should be upgraded to protect from cooking pollutants
Report examines ventilation standards, calls for increased public awareness of issue.
Codes and Standards | May 6, 2021
Blue roofs can provide relief to overwhelmed stormwater systems
Benefits most evident in industrial commercial areas.
Codes and Standards | May 5, 2021
Majority of schools took steps to improve air quality during pandemic
Districts still have unmet needs, face high costs and outdated building infrastructure.
Codes and Standards | May 4, 2021
Cost to keep Miami dry over next few decades is $4 billion
Rising seas demand big investment.
Codes and Standards | May 3, 2021
Fire stops critical to preserving three-decker housing
Old multi-family structures continue to provide badly needed homes in urban zones.
