- Lower interest rate
- Energy and water audit report 100% paid for by Fannie Mae
- Up to 5% more in loan proceeds for Green Rewards and Green Preservation Plus loans.
|Minimum Loan Amount
||No minimum or maximum
||Up to 30 Years
||Green Rewards: Up to 30 Years. Interest-only options also available.
Green Preservation Plus: Up to 40 years. 30 years for balloon structures. Interest-only periods not permitted.
||Green Rewards: 1.25 Conventional, 1.20 Affordable
Green Building Certification Pricing Break: 1.25 Conventional, 1.20 Affordable
Green Preservation Plus: 1.15 Affordable
||Green Rewards and Green Building: Up to 80%
Green Preservation Plus: Up to 85%
||Fixed- and adjustable- rate options available for Green Rewards and Green Building Certification; Fixed rate only for Green Preservation Plus.
|Interest Accrual Method
||30/360 and Actual/360
||Conventional, Affordable, Senior, Military and Cooperative properties nationwide
Borrowers must commit to installing capital improvements that target a 20% or more reduction to the whole property’s annual energy or water use.
||Single Asset Entity
||85% Physical Occupancy for 90 days. 70% economic occupancy required.
|Tax and Insurance Escrows
||Monthly deposits required.
||Monthly deposits required. Underwritten at a minimum $250 per unit per annum.
The cost of the agreed-upon property improvements for Green Rewards will be escrowed at 100% until completion; for Green Preservation Plus at 125%.
||Non-recourse with standard exceptions for fraud, misrepresentation and other non-recourse carve-outs (i.e., illegal transfers).
||Maximum 35% of net rentable area and maximum 20% of effective gross income
||Appraisal, Property Condition Assessment and Phase I. A High Performance Building report (HPB) is required for Green Rewards and Green Preservation Plus. Fannie Mae reimburses 100% of the cost for the HPB subject to the loan closing at Green Rewards.
||Yield Maintenance and other declining prepayment options are available.
||Subject to approval and 1% fee
||Not allowed without written approval
||Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV.
||Standard 10-day rate lock period. Early/Extended rate lock options available.
||$12,500. Covers all estimated underwriting costs (including processing fee).
||Minimum 1%. Par pricing available.
||Arbor’s Counsel Fee to be determined at application
|Good Faith Deposit
||2% of loan amount, due at rate lock, but refundable