Green Refinance Plus
June 13, 2011

At the beginning of June, HUD announced a new refinancing program called Green Refinance Plus. Green Refinance Plus is an enhancement of the Fannie Mae/FHA Risk-Share program, which provides funding for the refinance, preservation and energy-efficient retrofits of older affordable multifamily housing properties, including those that are currently in Fannie Mae’s or FHA’s portfolio. This program allows for lower debt service coverage and higher loan to value ratios, to generate extra loan proceeds for property rehab and energy-efficient retrofits.

For a fact sheet on the new program, please visit: http://portal.hud.gov/hudportal/documents/huddoc?id=GreenRefiPlusFactSheet.pdf

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– Condo Board President

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