Fannie Mae & Freddie Mac Affordable Housing Goals | FEDERAL HOUSING FINANCE AGENCY

News:

FHFA Finalizes 2025-2027 Housing Goals for Fannie Mae and Freddie Mac
- Learn more about the 2025-2027 Enterprise Housing Goals Final Rule.
- "The Size of the Affordable Mortgage Market: 2025-2027 Enterprise Single-Family Housing Goals" details the methodology used to estimate the market size for the Enterprise single-family housing goals.
FHFA Proposes 2025-2027 Housing Goals for Fannie Mae and Freddie Mac
- Learn more about the 2025-2027 Enterprise Housing Goals Proposed Rule.
- "The Size of the Affordable Mortgage Market: 2025-2027 Enterprise Single-Family Housing Goals" details the methodology used to estimate the market size for the Enterprise single-family housing goals.
FHFA Releases Housing Goals Data
- Learn more about Enterprise housing goals data.

Housing Goals Overview

Under the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008, Fannie Mae and Freddie Mac are subject to affordable housing goals covering their purchases of single-family mortgages and multifamily mortgages.

Single-Family Housing Goals

There are three single-family housing goals for home purchase mortgages (plus two subgoals) and one single-family housing goal for refinance mortgages.

The single-family home purchase (HP) housing goals are based on the percentage of the total number of home purchase mortgages that an Enterprise purchases each year that are for families in the following categories:

Low-income families (income no greater than 80 percent of area median income);
Very low-income families (income no greater than 50 percent of area median income); and
Families in low-income areas which include families with income no greater than 100 percent of area median income who reside in designated disaster areas and the subgoal(s):
- Before 2022: low-income areas subgoal
- Since 2022: low-income census tracts subgoal and minority census tracts subgoal

The single-family refinance housing goal is based on the percentage of the total number of refinance mortgages that an Enterprise purchases each year that are for low-income families (income no greater than 80 percent of area median income).

FHFA is required to estimate the size of the mortgage market in order to establish benchmarks for Fannie Mae and Freddie Mac single-family mortgage housing goals.

Multifamily Housing Goals

There are three multifamily housing goals and subgoals in the following categories:

A goal for the percentage of units affordable to low-income families (income no greater than 80 percent of area median income);
A subgoal for the percentage of units affordable to very low-income families (income no greater than 50 percent of area median income); and
A subgoal for units in small (5- to 50-unit) multifamily properties affordable to low-income families.

Before 2023, the multifamily goals and subgoals were based on the absolute number of affordable units in multifamily properties financed by mortgages purchased by the Enterprises. Starting in 2023, the multifamily goals and subgoals are based on the percentage of affordable units in multifamily properties financed by mortgages purchased by the Enterprises.