Nova is one of the primary providers of energy audits for both Fannie Mae and Freddie Mac green financing options.
Fannie Mae Green Rewards
Fannie Mae Green Rewards is for property owners interested in investing in energy and water efficiency measures (EWEM) at their multifamily properties. A minimum of 20% savings in energy OR water must be identified. Fannie Mae offers better pricing and will underwrite up to 75% of projected owner-paid projected savings and 25% of tenant-paid projected savings.
Fannie Mae covers the cost of the ASHRAE Level II energy and water audit when the loan closes as a Green Rewards.
Nova is Pre-Qualified With Fannie Mae
Nova has achieved pre-qualification with Fannie Mae for completing High Performance Building Reports as part of the Green Rewards program.
Delegated lenders will no longer have to submit Nova’s HPB reports to Fannie for approval. Lenders will review, score and approve the reports.
Freddie Mac Green Up
Freddie Mae Green Up is for property owners interested in investing in energy and water efficiency measures (EWEM) at their multifamily properties. A minimum of 15% savings in owner-paid energy OR water must be identified. Freddie Mac offers better pricing and will underwrite up to 50% of projected owner-paid projected savings.
Freddie Mac reimburses up to $3,500 of the ASHRAE Level I energy and water audit when the loan closes as a Green Up.
All properties need to be benchmarked and receive an Energy Star score. The utility data provided is also used for all savings estimates.
The Seller/Servicer must provide:
Enter your name and e-mail address for free access to webinar slides about both products.[email-download download_id=”5736″ contact_form_id=”4755″]
Keely Felton | Strategic Energy Group | E-mail | 207-939-4983