FHFA Sets 2024 Multifamily Loan Purchase Caps: What Realtors Need to Know

Lisa Mailhot  |  November 15, 2023


FHFA Sets 2024 Multifamily Loan Purchase Caps: What Realtors Need to Know


The real estate landscape is constantly evolving, and it's essential for everyone to stay updated on the latest developments. One recent announcement of significance is the Federal Housing Finance Agency's (FHFA) decision regarding the 2024 multifamily loan purchase caps for Fannie Mae and Freddie Mac, totaling an impressive $140 billion. In this blog post, we'll break down what this means for the multifamily market, affordable housing, and why it matters to all of us.

FHFA's 2024 Multifamily Loan Purchase Caps

As of November 14, 2023, FHFA has set the 2024 multifamily loan purchase caps at an impressive $70 billion for each government-sponsored enterprise (GSE), adding up to a combined total of $140 billion. This substantial financial commitment is aimed at bolstering the multifamily housing market and addressing the growing need for affordable rental housing.

Emphasis on Affordable Housing

FHFA's announcement also comes with a significant requirement: at least 50% of the GSEs' multifamily businesses must be "mission-driven, affordable housing." This means that a substantial portion of their lending activities will focus on making housing more accessible and affordable for a wider range of individuals and families.



Workforce Housing Exemption

One notable aspect of the 2024 multifamily loan caps is the exemption for loans supporting workforce housing properties listed in Appendix A of the Conservatorship Scorecard. These loans will not be subject to the volume caps, promoting the preservation of affordable rents for extended periods of time.

Implications for Everyone

So, how does this decision by FHFA affect not just Realtors, but the general public as well? Here are some key takeaways:

  • Affordable Housing Opportunities: The emphasis on affordable housing creates more opportunities for everyone to find accessible and reasonably priced rental options. It's a step toward addressing the housing affordability crisis that many face.
  • Market Stability: The substantial loan purchase caps provide stability to the multifamily market, which can lead to more confident and active housing markets in various regions. This can have a positive impact on homeowners, renters, and investors alike.
  • Mission-Driven Initiatives: With a growing demand for mission-driven, affordable housing, you may encounter initiatives aimed at providing housing solutions that align with these goals. Understanding FHFA's mission-driven requirements can help you access housing options that suit your needs.


The FHFA's decision to set the 2024 multifamily loan purchase caps at $70 billion for each GSE, with an emphasis on affordable housing and a workforce housing exemption, marks an important development in the real estate landscape. It's a step toward addressing the housing challenges many individuals and families face today. As we move forward, staying informed about these changes is essential for everyone, and it can help you find the right housing opportunities in the multifamily market.


Reference: FHFA Sets 2024 Multifamily Loan Purchase Caps at $70 Billion Per GSE (By Phil Hall | Nov 14, 2023)

Recent Blog Posts

Stay up to date on the latest real estate trends.


Converted Churches, Barns, and Factories: Unconventional Home Conversions

Lisa Mailhot  |  November 30, 2023

Experience Unique Living: Converted Churches, Barns, and Factories Turned Homes. Discover the charm of unconventional conversions with history, character, and modern c… Read more


Unveiling the Hidden Gems of Orange County: 10 Intriguing Trivia Facts

Lisa Mailhot  |  November 28, 2023

Delve into the secrets of Orange County, California, with our blog featuring captivating trivia facts. Whether you're a potential buyer, seller, or a curious tourist, … Read more


Orange County Real Estate in 2023: Market Trends and Insights

Lisa Mailhot  |  November 27, 2023

Uncover 2023 Orange County Housing Market Trends: Delve into median sold prices, sales metrics, and market dynamics to understand if it's a buyer's or seller's market.… Read more


Last-Minute Gifts for the Home: Thoughtful Ideas for Stress-Free Holiday Giving

Lisa Mailhot  |  November 22, 2023

Stuck in a last-minute gift scramble? Discover seven low-stress, last-minute gift ideas that'll delight your loved ones and elevate their home experience. From cozy th… Read more


Unlocking Opportunities: Lower Mortgage Rejection Rates Point to a Brighter Real Estate Horizon

Lisa Mailhot  |  November 21, 2023

Explore the changing real estate landscape influenced by declining mortgage rejection rates. Discover the opportune moment for buying or selling your home while improv… Read more


Dealing with Problematic Neighbors When Selling Your Home

Lisa Mailhot  |  November 20, 2023

 Selling your home with challenging neighbors? Learn how to handle noisy, disrespectful, or problematic neighbors effectively. Follow these tips to ease the selling pr… Read more


Orange County Real Estate Trends: November 2023 Market Insights

Lisa Mailhot  |  November 16, 2023

Get the latest insights into the Orange County real estate market. Discover trends, notable closings, and the impact of the holiday season on inventory. Stay informed … Read more


FHFA Sets 2024 Multifamily Loan Purchase Caps: What Realtors Need to Know

Lisa Mailhot  |  November 15, 2023

Stay informed on FHFA's 2024 multifamily loan purchase caps, totaling $140 billion for Fannie Mae and Freddie Mac. Explore the impact on the multifamily market and its… Read more


Navigating Today's Housing Market: The Rise of 'Nepo-Homebuyers

Lisa Mailhot  |  November 14, 2023

Learn about the rise of alternative lenders, such as parents, as a solution to the affordability challenge in today's real estate market. Explore available options for… Read more

Let’s Talk

You’ve got questions and we can’t wait to answer them.