Multi-Family “Green Reward” Program Rates Starting At 2.83% 10-Yr Fixed
Fidelity Bancorp Funding’s Fannie Mae Multifamily suite of green financing solutions includes options for acquisition, refinance, and supplemental financing.
Green Financing solutions create a “triple bottom line” by supporting increased cash flows, better quality housing, and reduced energy and water usage.
Loan Benefits:
- Lower interest rate.
- Up to 5% more loan proceeds.
- Attract more investors with a Green MBS.
- Free energy and water audit report and technical solar assessment.
- Increase net cash flow by underwriting projected energy and water cost savings.
Loan Type | Size | Term:
Multi-Family: Purchase, Refinance, Cash-Out Refinance | $2,000,000+ | 5 – 30 Years
Loan Benefits:
- All asset classes with at least 12 months of stabilized residential occupancy; a manufactured housing community is eligible only if a solar PV system is selected as an efficiency measure.
- Property owner must commit to property improvements that are projected to reduce the whole property’s annual energy and/or water usage by at least 30%, of which a minimum of 15% must be projected energy savings.
- Improvements must be installed within 12 months of loan origination.
- Properties may be located anywhere in the U.S.
Note:
• Eligible improvements include new ENERGY STAR® appliances, energy-efficient HVACs, WaterSense labeled low-flow fixtures, LED lighting, solar photo-voltaic (PV) systems, and more.
• Underwriting 75% of the owner and 25% of the tenant projected energy and water cost savings may be included in the underwritten net cash flow.
* Rates as of 07-16-2020. Rates and programs are subject to change without notice. This sheet is to be used solely by Licensed Real Estate professionals. This is not a commitment to lend. Rates, terms, conditions, guidelines and programs are subject to change without notice. Call for other program opportunities. This advertisement shall not be deemed to be an offer to extend credit.
