General Information and Structure
Lender:
Fannie Mae
Lending Type:
For-profit lender
Jurisdiction:
National
Green Preservation Plus is ideal for multifamily affordable property owners seeking to update equipment and reduce costs at their multifamily affordable property. Energy and water saving improvements must equal at least 5% of the original mortgage loan amount. Green Preservation Plus offers: -Free ASHRAE Level 2 Energy Audit, subject to loan closing under Green Preservation Plus -Better pricing than non-green loans -Up to 85% LTV -1.15 DSC -Up to 5% more loan proceeds. -Disclosure of the loan as a "Green MBS" to the bond market
Active or Closed Program?:
Active
Eligibility Criteria:
MAH properties that are 10 years or older and meet MAH income and rent restrictions during the loan term
Type of Financing:
Mini-Permanent/Permanent
Loan Size Range:
No minimum or maximum (loans over $50 million require HUD consent)
Type of Improvements Covered:
• Upgrading to ENERGY STAR® appliances
• Upgrading boiler
• Replacing inefficient lighting
• Installing solar systems
• Installing water-saving irrigation systems
• Improving insulation
• Making other energy- & water-saving
improvements
