Fannie offers ‘Healthy Housing’ incentive
Mortgage financing giant Fannie Mae launched a healthy housing reward initiative that offers financial awards to multifamily borrowers who provide services that improve the health and well-being of tenants living in affordable housing. These services could range from daycare and food access to youth and education programming and job training.
The program, dubbed Enhances Resident Services, includes a lower borrowing rate for purchasers who participate. The program is part of Fannie Mae’s Healthy Housing Rewards initiative, which aims to advance sustainable communities and the availability of affordable housing by encouraging multifamily borrowers to improve design features and services that improve residents’ health and stability.
To qualify for the program, at least 60 percent of the units in multifamily properties seeking the pricing incentive must serve residents earning 60 percent of average median income or less. The program officially started Jan. 15.