Making It Even Easier to be Green: Fannie Mae Upgrades Multifamily Green Rewards Product

Fannie Mae has enhanced its Green Rewards program for multifamily properties.  This year alone, Fannie Mae has provided more than $1.2 billion in financing to qualified green multifamily properties.  Fannie Mae’s green financing solutions use pricing breaks and higher loan proceeds to give multifamily investors an incentive to make sustainability improvements to their properties and/or to pursue green building project certifications.

Now the Green Rewards product upgrades make it even easier to invest in sustainability improvements in multifamily properties.  Last week, Fannie Mae announced it will cover the cost of the required energy and water audit and lenders will now be able to underwrite 75 percent of the owners’ projected cost savings.  These improvements will augment the current offer to underwrite 25 percent of projected cost savings for building tenants through the Green Rewards product.  Investors can access the benefits of the program for refinance, acquisitions, supplements and second supplemental loan arrangements.

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