The officials at Freddie Mac & Fannie Mae are supporting government initiatives by aligning lending programs to offer extra incentives to the multi-unit investment market.
We are sharing an article by nreionline.com that talks all about it. Here are the highlights....
Fannie Mae & Freddie Mac both have loans that are offering lower basis point interest rates fixed for 10 years when complying with with the "Green" Requirements.
The main requirements are to cut water & energy use by 30%. We have seen recent reports that allow solar to offset this requirement while adding NOI to the bottom line of an asset.
They have even gone as far as removing "green loans" from the FHFA lending limits.
"Officials at the Federal Housing Finance Agency (FHFA) limit the volume of loans on apartment properties that Freddie Mac and Fannie Mae can buy to $35 billion each a year, with a few exceptions. Loans to apartment properties that count as affordable housing or energy-efficient “green” properties do not count towards the FHFA limits." - According to this article posted by NREIonline.com
Talk to one of our energy consultants on your next acquisition to see how a revenue generating solar asset can help you comply with new green loan requirements while adding NOI to your bottom line.
Read about the full article here: nreionline.com