
Fannie Mae Green Rewards
- Eligibility: Existing communities with utility reduction opportunities.
- Requirements: Perform an ASHRAE Level II energy/water audit, reduce property-wide energy OR water consumption by 20%, report annual utility performance to Fannie via ENERGY STAR Portfolio Manager.
- Benefits: Up to 39 bps interest rate reductions, ASHRAE Level II energy audit paid for by Fannie, up to 5% additional loan proceeds, increased NOI.
- Estimated capital costs:No minimum investment, $150-$350/unit for 20% water reduction, $300-$700/unit for 20% energy reduction.

Freddie Mac Green Up Plus
- Eligibility: Existing communities constructed before 2000.
- Requirements:15% reduction in property-wide energy OR water consumption, report annual utility performance to Freddie via ENERGY STAR Portfolio Manager.
- Benefits: Up to 30 bps interest rate reductions, Freddie subsidizes $3,500 of ASHRAE Level II energy/water audit, increased NOI.
- Estimated capital costs:Requires minimum improvement budget of $350/unit that should more than cover a 15% water reduction, up to $600/unit for 15% energy reduction.