FHFA lncreases Fannie Mae, Freddie Mac Multifamily Loan Purchase Caps for 2022

Housing Finance
Published
Contact: Michelle Kitchen
[email protected]
Senior Director, Multifamily Finance
(202) 266-8352

The Federal Housing Finance Agency (FHFA) today announced that the 2022 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market.

The 2022 caps, which increased from $70 billion for each Enterprise in 2021, are based on FHFA’s projections of the overall growth of the multifamily originations market.

At least 50% of the Enterprises’ multifamily loans are required to be used for affordable housing. FHFA also requires at least 25% of the Enterprises’ multifamily business be affordable to residents at or below 60% of area median income (AMI), up from 20% in 2021.

In addition, FHFA has changed certain definitions of multifamily mission-driven affordable housing in Appendix A of the Conservatorship Scorecard. In 2022, FHFA will allow loans on affordable units in cost-burdened renter markets and loans to finance energy or water efficiency improvements with units affordable at or below 60% of AMI to be classified as mission-driven.

FHFA will continue to monitor impacts of COVID-19 on the multifamily mortgage market and will update the multifamily caps and mission-driven requirements if adjustments are warranted. However, to prevent market disruption, if FHFA determines that the actual size of the 2022 market is smaller than was initially projected, FHFA will not reduce the caps.

Access links to the Multifamily Caps Fact Sheet and the 2022 Appendix A: Multifamily Definitions.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Workforce Development | Membership

Jul 11, 2025

Maine HBA Brings Real-World Training to State’s Future Builders

Recognizing an aging workforce and a critical need for new talent, the Association has partnered with the Sanford Regional Technical Center (SRTC) to prepare the next generation of skilled tradespeople. Through HBA-led instruction, high-school students are building homes from the ground up and gaining real-world experience.

Advocacy | Tax Reform

Jul 10, 2025

What to Know About Expiring Energy Tax Credits

President Trump recently signed the One Big Beautiful Bill Act (OBBBA) into law, which significantly accelerates the termination date for federal energy tax incentives. Builders and remodelers using the credits should be aware of the new expiration dates and where necessary, consult with their tax professional for additional guidance.

View all

Latest Economic News

Economics

Jul 11, 2025

Shrinking Lots: Spec Building New Norm

The share of smaller lots remained record high in 2024, with two out of three new single-family detached homes sold occupying lots under 9,000 square feet (1/5 of an acre or less).

Economics

Jul 10, 2025

Remodeling Market Sentiment Dips in Second Quarter

In the second quarter of 2025, the NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 59, down four points compared to the previous quarter.

Economics

Jul 09, 2025

Mortgage Applications Picked Up in June as Rates Eased

Mortgage application activity picked up in June, supported by a slight decline in interest rates. The Mortgage Bankers Association’s (MBA) Market Composite Index, which tracks mortgage application volume, rose 5.4% from May on a seasonally adjusted basis. Compared to June 2024, total applications were up 21.1%.