More Loan Proceeds
Green Multifamily Financing Eligibility Requirements Updated for 2019
A Green Financing solution from Hunt Real Estate Capital can strengthen a multifamily property’s “triple bottom line” by benefiting the “three Ps” – profits, people and the planet. Green incentive programs from Fannie Mae or Freddie Mac not only provide for discounted interest rates, but can also increase loan proceeds by 5 percent to cover retrofits that reduce water and energy use. Utility savings can be passed on to residents, and green improvements create jobs and make the community more resilient.And of course, conserving energy and water helps reduce greenhouse gas emissions and preserve limited natural resources.
Eligibility requirements for these Green programs increased slightly in 2019 under new Federal Housing Finance Agency (FHFA) guidelines. Borrowers must now be able to project a minimum 30 percent reduction in whole property energy and water use, and a minimum 15 percent of the reduction must be in energy.
Hunt’s expert Loan Officers and Green Financing specialists can help you identify which Green improvements to target when pursuing this incentive program. For more information, request a quote using the form below or reach our to your Hunt representative.