The Federal Housing Finance Agency announced that the 2026 multifamily loan purchase caps for Fannie Mae and Freddie Mac will be USD 88 billion per Enterprise, for a combined total of USD 176 billion. The framework also requires that at least 50% of each Enterprise’s multifamily business be mission-driven affordable housing to maintain a focus on affordable housing and underserved markets. As in 2025, multifamily loans financing workforce housing will be excluded from the 2026 limits, while other mission-driven loans remain subject to the volume caps. FHFA will monitor conditions in the multifamily mortgage market and may increase the caps if needed to support market liquidity, but it will not reduce the caps if it later determines the 2026 market is smaller than initially projected.
Federal Housing Finance Agency 2025-11-24
Federal Housing Finance Agency sets 2026 multifamily loan purchase caps of USD 88 billion each for Fannie Mae and Freddie Mac and requires 50% mission-driven affordable housing
The Federal Housing Finance Agency set the 2026 multifamily loan purchase caps for Fannie Mae and Freddie Mac at USD 88 billion each, totaling USD 176 billion. At least 50% of each Enterprise's multifamily business must focus on mission-driven affordable housing. Workforce housing loans are excluded from the caps, and the FHFA may adjust the caps to support market liquidity if necessary.