Details | Green Preservation Plus Program


Funder

 

Fannie Mae

Implementer

 

Fannie Mae Lenders

Description

 

The Green Preservation Plus Program is specifically for multifamily affordable housing (MAH) properties that are 10 years or older and meet MAH income and rent restrictions. It provides a 1no-40 year fixed-rate loan with a maximum loan-to-value ratio of 85% for improvements that generate energy and water savings. Expenditures must equal at least 5% of the original mortgage loan amount, but owners may access the property equity in an amount up to the cost of the energy and water saving improvements being financed. In addition to the lower interest rate and free energy and water audit that is also provided in the Green Rewards Program, this program includes an FHA risk share execution in which the FHA insures a percentage of the risk of loss on these loans, to increase affordable multifamily mortgage production.

Funding guidance

 

Applications open

 

None

Applications close

 

None

Type

 

Secured Loan

Category

 

Financing

Territory

 

United States

Applicant type

 

For Profit  |  Private Resident

Project

 

Rehabilitation of Existing Whole Building  |  Rehabilitation of Part of an Existing Building

Sector

 

Residential

Sub-sector

 

Multi Family

Sustainability

 

Energy Efficiency in Buildings  |  Energy Management System  |  Energy Storage  |  Generation Systems  |  Water Use Reduction

Small business

 

False

Disadvantaged communities

 

True

Cost sharing amount

 

None

Cost sharing percent

 

None

Cost sharing note

 

Minimum repayment years

 

10

Maximum repayment years

 

None

Interest rate comment

 

Incentive