Utility Efficiency

• Conventional loans and TAH cash preservation loans (excludes Conventional Small, Seniors, Student, MHCs and supplementals).
• 5, 7- or 10-year term.
• Fixed- or floating-rate execution.
• At least 40% of the property’s units must be affordable at workforce housing levels.

30% of energy or water/sewer consumption for the whole property, with a minimum of 15% from energy, based on Green Assessment. Find additional energy- and water-efficient products at the Environmental Protection Agency’s ENERGY STAR® and WaterSense program webpages.

Must meet policy compliant DCR/LTV; no adjustment.

2 years to complete.

Funds for energy-/water-efficiency work will be escrowed at 125% of cost and released as work iscompleted.

Green Assessment.

Utility Efficiency loans require borrowers to engage a third-party data collection consultant, prior to the origination of the loan, to collect, input and monitor actual energy and water usage through the term of the loan.

We recognize the following industry-standard building performance certifications:

1. EarthCraft, Southface
2. ENERGY STAR for Multifamily Existing Buildings, High Rise, New Construction, EPA
3. Green Communities, Enterprise Community Partners
4. Green Globes, Green Building Initiative
5. GreenPoint Rated, Build It Green
6. Leadership in Energy and Environmental Design (LEED), US Green Building Council
7. National Green Building Standard (NGBS), Home Innovation Research Labs
8. Passive House Institute US (PHIUS) Certified
9. Passive House Institute (PHI) Certified

At least 40% of the property’s units must be affordable at workforce housing levels.