Green Preservation Plus - Affordable Multifamily
Green Preservation Plus is a financing option offered by Fannie Mae that helps owners of multifamily affordable housing (MAH) preserve and improve their properties by providing funding for energy-efficient retrofits. Designed specifically for affordable apartments, investors can finance improvements and use proceeds for upgrading insulation, efficient water fixtures, windows, lighting, and HVAC systems.
The Green Preservation Plus loan offers a number of benefits:
- Lower interest rates: Borrowers can qualify for lower interest rates than traditional loans, which can save you money over the life of the loan.
- Tax credits: You may be eligible for tax credits for making energy-efficient upgrades to your property.
- Mortgage insurance premium waivers: You may be eligible for mortgage insurance premium waivers, which can save you money each month.
- Energy efficiency upgrades: Modern retrofits can reduce your property’s operating costs and save you money in the long run.
- Reduced environmental impact: Green upgrades will reduce your property’s environmental impact, which can benefit the community and the planet.