By Celis Brisbin, Programs Manager
Published on 15 Dec 2015 Written by Fannie Mae Posted in LEED
This article was previously published on fanniemae.com. Read the full article.
More multifamily owners are pursuing Green Building Certifications for their properties now than ever before. Fannie Mae Multifamily is continuously innovating, improving our financial products to match our customers' financing needs. Offering the new Green Building Certification Pricing Break is part of that innovation.
The Pricing Break reduces the all-in interest rate on loans for multifamily properties with eligible green building certifications by 10 basis points (0.10 percent).
This October, SolTerra took advantage of the Green Building Certification Pricing Break on its $3.8 million mortgage loan for The Woodlawn, a LEED Platinum multifamily property in Portland, Oregon. With 10 bps off the all-in interest rate, SolTerra will save $24,551 in interest over the loan term. These savings create value for SolTerra and pay back the LEED certification cost in less than five years.