Fannie Mae Announces Green Financing for Multifamily
A new multifamily financing option is available for owners of apartment and multifamily buildings that are looking to reduce their utility costs and invest in green energy. These investments are aimed at improving green technologies and saving money for both renters and property owners.
Green Rewards “rewards borrowers for investing in smart property improvements by giving owners a lower all-in interest rate and access to more loan dollars,” said Jeffery Hayward, Executive Vice President and Head of Multifamily at Fannie Mae. “The resulting greener property really has rewards for all of housing’s stakeholders: it means increased cash flows for the owners, lower utility expenses and better quality housing for tenants, and a high quality asset backing our MBS for investors.”
Green Rewards is the latest green financing innovation from Fannie Mae Multifamily. Fannie Mae announced in February that multifamily properties with an existing Green Building Certification will receive a 10 basis point reduction in the interest rate on new loans.