Multifamily lender lowers interest rates for LEED-certified projects
- Published: Monday, 16 February 2015 12:54
- Written by Concrete News
Sources: U.S. Green Building Council, Washington, D.C.; CP staff
As part of its Multifamily Green Initiative, Fannie Mae is granting a 10 basis point reduction in the interest rate of a refinance, acquisition or supplemental mortgage loan for a multifamily property carrying certification or recognition under USGBC LEED, EPA Energy Star or Enterprise Green Communities programs. On a $10 million dollar loan amortizing over 30 years, an owner would save $95,000 in interest payments across a 10-year term based on 3.9 percent versus 4 percent market rate.