General Information and Structure
Lender:
Fannie Mae
Lending Type:
For-profit lender
Jurisdiction:
National
Green Rewards is ideal for property owners investing in energy- and water-cost reducing property improvements at their existing multifamily property. Requires minimum projected reduction of 20% energy or 20% water consumption. A Green Rewards loan offers: -Free ASHRAE Level 2 Energy Audit, subject to loan closing under Green Rewards -Better pricing than non-green loans -Underwriting of 75% of owner's projected cost savings -Underwriting 25% of tenant's projected cost -Up to 5% additional loan proceeds -Disclosure of the loan as a "Green MBS" to the bond market
Active or Closed Program?:
Active
Type of Financing:
Mini-Permanent/Permanent
Loan Size Range:
Avergae loan size is $7-10M, but some are smaller, like $200K
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
