Freddie Mac Green Advantage includes a variety of Green Loans designed for multifamily apartments. Like Fannie Mae’s programs, these products are linked to sustainability. Borrowers must invest a portion of the loan proceeds in energy-saving upgrades. Those upgrades and improvements must achieve a 30% reduction in utility costs with at least 15% of those savings coming from energy.
Borrowers using Green Advantage can choose from a variety of options:
- Green Up
- Green-Up Plus
- Green Certified
- Green Rebate
What differentiates Freddie’s Mac Green Advantage, is the focus on affordable rents. In order for properties to qualify, the apartments or community must offer a percentage of units at rents deemed affordable at workforce housing levels. These requirements vary by market.
Click here to see Affordability Test & Resources:
Green Up and Green Up Plus loans require that all Borrowers engage a third-party data collection consultant who will collect, input and monitor the actual energy and water usage during the loan term. Part of this process involves reports such as the Green Assessment and Green Assessment Plus (details below). Freddie Mac will reimburse up to $4000 for the cost of these reports.
Our professionals will guide you throughout the Green Loan process. Not only will we find a loan to meet your specific needs, but we’ll work hand-in-hand all third-party consultants and vendors to ensure the process goes smoothly.