In 2019 we are committed to making affordable properties greener and healthier for tenants! Your Fannie Mae Affordable Team is excited to work with you to identify the best opportunities to leverage the benefits of Green Rewards and Healthy Housing Rewards™ loan products on your next Multifamily Affordable deal.

Green Rewards and Healthy Housing Rewards provide great benefits for Multifamily Affordable Housing deals
Did you know that borrowers who commit to energy and water-saving property improvements through Green Rewards can underwrite a portion of the projected utility savings to increase loan proceeds?

Through Green Rewards borrowers can underwrite 75% of projected owner utility savings and 25% of projected tenant utility savings to access additional loan proceeds of up to 5%. This is a great benefit for a debt service constrained deal that is looking to maximize proceeds. Plus, borrowers receive a free energy and water audit as long as the deal delivers as a Green Rewards Mortgage Loan.

Healthy Housing Rewards also offers great benefits for affordable deals. Healthy Design properties receive preferred pricing and reimbursement of certification costs, and Enhanced Resident Services™ properties receive preferred pricing to help support resident services expenses, and initial certification costs are covered by Fannie Mae. We are excited to work with you on more Healthy Housing Rewards deals in 2019!

Mod Rehab deals are going green to reduce operating expenses
Green Rewards is the perfect match for a property that is preparing to undergo rehab work. If a borrower is already planning to make improvements, chances are that some of these improvements reduce energy and water use, like HVAC upgrades, lighting, window replacements, and bathroom and kitchen upgrades. Through the free energy and water audit offered for Green Rewards, borrowers get property-specific expert recommendations on all the cost-effective energy and water saving measures available to them. A rehab is a great time to make sure that owner and tenant utility costs are as lean as possible.

Curious how a Mod Rehab project and Green Rewards work together?
Here's an example based off of an actual Mod-Rehab deal, where the borrower planned to invest about $25,000/unit for property upgrades, including HVAC and water heater replacements, window and roof replacement, and lighting upgrades. The Green Rewards audit offered some suggestions for achieving additional energy and water savings at this property for minimal additional cost, including low-flow faucets and showerheads, high efficiency LED lighting, and higher efficiency HVAC than initially specified. With the energy and water savings from already planned improvements plus the enhancements recommended through the audit, the property could easily meet the Green Rewards requirements of 15% energy savings plus an additional 15% energy or water savings. This enables the property to access an additional 5% in loan proceeds, while increasing real cash flow after installation of the efficiency measures. Plus, going green on affordable deals makes your pricing ask stronger!


Standard Loan

Green Loan

Net Cash Flow



75% of Projected Owner Utility Savings
25% of Projected Tenant Utility Savings



Underwritten Net Cash Flow



Maximum Loan Amount









Green Rewards Additional Loan Proceeds



We want to continue to be a part of the preservation, rehabilitation and new construction of quality housing across the United States, and Green Rewards and Healthy Housing Rewards are two ways to take advantage of the great benefits we have to offer.

Find out More!

The Fannie Mae Affordable Team and Green and Healthy Housing Financing Team are teaming up to bring you detailed information on the Green and Healthy Housing loan products and to show you how we can help you take advantage of these benefits for your next deal. Look for your invitation to an upcoming webinar happening on March 7, 2019 at 2 p.m. ET and join us! Please contact your deal team if you haven't yet received your invitation.

Multifamily LIVE! will be held March 19-20 in Scottsdale, AZ. We'll focus on our affordable business and highlight all of our loan products including Green and Healthy Housing. There are still seats available; contact your deal team for more information and to secure your spot!


Angela & Karyn