Fannie Mae Green Financing – Loan Program

May 08, 2020


NOTE: Only multifamily properties are eligible for the program. Single family homeowners are not eligible for this program. 

The Fannie Mae Green Financing Business provides mortgage financing to apartment buildings and cooperatives (with 5 or more units) to finance energy and water efficiency property improvements. Its green financing programs include Green Rewards, and preferential pricing for loans secured by a property with an eligible Green Building Certification. All Fannie Mae green loans are securitized as Green Mortgage Backed Securities (Green MBS). To learn more about these programs, multifamily property owners should coordinate with a Fannie Mae DUS Lender:

Green Rewards, launched in 2015, provides preferential pricing and up to an additional 5% of loan proceeds by including up to 75% of projected owner energy and water savings and 25% of projected tenant savings in the loan underwriting. Conventional and affordable multifamily properties, as well as cooperatives, seniors, military, and student housing properties are eligible for this program. To qualify for a Green Rewards loan the property owner must commit to making property improvements that are projected to reduce the whole property’s annual energy and water consumption by at least 30%, which a minimum of 15% must be attributable to savings in energy consumption. Properties may be located anywhere in US, and the selected property upgrades must be completed within 12 months of loan closing.

Fannie Mae also provides preferential pricing for an acquisition or refinance loan on a conventional or affordable property that has a current, eligible Green Building Certification per Fannie Mae Form 4250.

Please visit the Fannie Mae Green Financing website for more information and detailed program requirements.

Program Overview

Implementing Sector: Federal
Category: Financial Incentive
State: Federal
Incentive Type: Loan Program
Web Site:
Start Date:
Eligible Renewable/Other Technologies:
  • Solar Photovoltaics
  • Clothes Washers
  • Dishwasher
  • Dehumidifiers
  • Water Heaters
  • Lighting
  • Furnaces
  • Boilers
  • Heat pumps
  • Air conditioners
  • Caulking/Weather-stripping
  • Duct/Air sealing
  • Building Insulation
  • Windows
  • Roofs
  • Comprehensive Measures/Whole Building
  • Custom/Others pending approval
  • Insulation
  • Tankless Water Heater
Maximum Loan: Not Specified
Loan Term: Not Specified
Interest Rate: Interest rate benefit varies – contact a Fannie Mae DUS® Lender for details


Name: Karyn Sper
Organization: Fannie Mae

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.