Freddie Mac (the Federal Home Loan Mortgage Corporation, FHLMC) offers Green Advantage financing options to reward borrowers who:
- Plan to improve their Multifamily properties to save energy/water, or
- Have a Green Building Certified Multifamily property
Partner can provide the required Green Assessment in addition to the PCA and Phase 1 reports.
Freddie has relaunched the Green Advantage program to focus on workforce housing.
Freddie Mac Green Up & Green Up Plus
Freddie Mac will reimburse up to $4,000 of the cost of the Green Assessment report as long as a Freddie Mac loan is closed.
Both programs give borrowers preferred financing for committing to reduce owner-paid energy or water consumption.
- Green Up borrowers need the Freddie Mac Green Assessment, an ASHRAE Level I report detailing proposed property-level improvements to promote utility consumption efficiency. The report describes projected savings in terms of utility consumption and dollars saved per improvement item. Green Up borrowers can underwrite up to 50% of projected energy savings.
- Green Up Plus borrowers need the Freddie Mac Green Assessment Plus. This is an ASHRAE Level II report that contains a more detailed analysis of projected savings in terms of utility consumption and dollars saved at the Property than the Level I report. Green Up Plus borrowers can underwrite up to 75% of projected energy savings.
Freddie Mac Green Certified
Borrowers receive preferred financing when at least 50% of the Property’s units are affordable at workforce housing levels and has one of these applicable Green Certifications
- EarthCraft, Greater Atlanta Home Builders Association & South Face
- ENERGY STAR® for Multifamily, EPA
- ENERGY STAR® for Qualified Multifamily High-Rise, EPA
- Green Communities, Enterprise Community Partners
- Green Globes, Green Building Initiative
- GreenPoint Rated, Build It Green
- LEED, US Green Building Council
- National Green Building Standard (NGBS), Home Innovation Research Labs
Freddie Mac Green Rebate
Still looking for the right option? Borrowers can receive $5000 from Freddie Mac for delivering an EPA ENERGY STAR® Score.
Freddie Mac Multifamily can grant consent for Commercial PACE financing. Conditions and requirements apply.