FHFA Reduces Fannie Mae, Freddie Mac Multifamily Loan Purchase Caps for 2024

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

The Federal Housing Finance Agency (FHFA) announced today that the 2024 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $70 billion for each Enterprise, for a combined total of $140 billion to support the multifamily market.

The 2024 caps, which decreased from $75 billion for each Enterprise in 2023, 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 anticipates the 2024 cap levels will be appropriate given current market forecasts. However, FHFA will continue to monitor the multifamily mortgage market and increase the caps if necessary. If FHFA determines that the actual size of the 2024 market is smaller than initially projected, FHFA will not reduce the caps.

For 2024, FHFA will allow loans classified as supporting workforce housing properties to be exempt from the volume caps.

2024 Multifamily Caps Fact Sheet

2024 Appendix A

Subscribe to NAHBNow

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

Log in to subscribe

Latest from NAHBNow

Trends

Oct 29, 2025

Do Consumers Want Two-Story Foyers?

Nearly a quarter of new homes were built with a two-story foyer in 2024 — a number that has been trending downward over the past eight years. Though the national decline continued, regional patterns were mixed. See where this feature is hot — and where it's not.

Certified Aging-in-Place Specialist (CAPS) | Education

Oct 29, 2025

How to Market to and Design for the Aging-in-Place Client

NAHB will host three webinars (open to members and non-members) in November to teach the technical, business management, and customer service skills necessary to complete modifications for aging-in-place.

View all

Latest Economic News

Economics

Oct 29, 2025

The Fed Cuts amid Partly Cloudy Conditions

With the government shutdown limiting the quantity of economic data available to markets and policymakers, the central bank’s Federal Open Market Committee (FOMC) enacted a widely anticipated 25 basis point cut for the short-term federal funds rate.

Economics

Oct 28, 2025

Home Price Growth Slows

Home prices in August grew at the lowest annual rate in over two years, according to the recent release of the S&P Cotality Case-Shiller Home Price Index (seasonally adjusted – SA).

Economics

Oct 27, 2025

Two-Story Foyer Trend Stabilizes in 2024

In 2024, nearly a quarter of new homes were built with a two-story foyer, virtually unchanged from 2023, according to data obtained from the Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB.