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
| Dec 13, 2011
LEED-EB outpaces LEED for new construction
The U.S. Green Building Council's (USGBC's) LEED certifications for existing buildings standard is outpacing LEED for new buildings for the first time.
| Dec 13, 2011
Regulators charge pervasive abuse of construction workers in Connecticut
Federal and state regulators say they have uncovered what they call "widespread noncompliance" with minimum wage and overtime laws in Connecticut's construction industry.
| Dec 13, 2011
Philadelphia mayor signs order for project labor agreements
Philadelphia Mayor Michael Nutter signed an executive order establishing project labor agreements for major public works projects in Philadelphia.
| Dec 13, 2011
Improved code requirements for attic ventilation
The Roof Assembly Ventilation Coalition (RAVC) participated in the development of the code.
| Dec 12, 2011
LEED-EB Outpaces LEED for New Construction
The U.S. Green Building Council’s (USGBC’s) LEED certifications for existing buildings standard is outpacing LEED for new buildings for the first time.
| Dec 12, 2011
Philadelphia Mayor Signs Order for Project Labor Agreements
Philadelphia Mayor Michael Nutter signed an executive order establishing project labor agreements for major public works projects in Philadelphia.
| Dec 12, 2011
Improved Code Requirements for Attic Ventilation
The International Code Council (ICC) recently published the 2012 International Residential Code (IRC) that includes improved code requirements for balanced intake and exhaust for ventilated attics.
| Dec 12, 2011
DOE makes 2010 ASHRAE energy standard the reference for state energy codes
The U.S. Department of Energy (DOE) issued a ruling that establishes the 2010 American Society of Heating, Refrigerating and Air-Conditioning Engineers’ (ASHRAE’s) 2010 energy efficiency standard as the commercial building reference standard for state building energy codes.
| Dec 1, 2011
Chinese cabinet approves regulation to prevent fraud in construction bidding
China’s State Council approved a regulation to standardize bidding processes for construction and other business-related projects in order to prevent fraud and misconduct.
| Dec 1, 2011
More stringent efficiency codes driving growth in green building industry
Thanks partly to upgraded building codes, the building energy efficiency market will soar more than 50% between now and 2017 to $103.5 billion, according to Pike Research.
