Freddie Mac’s 2025 multifamily volume was up 17% over 2024, the government-sponsored enterprise (GSE) reported. Its production volume totaled $77 billion. This included a record $1.2 billion in low-income housing tax credit (LIHTC) equity investments, following the Federal Housing Finance Agency’s (FHFA’s) doubling of the equity cap in August.
The GSE achieved its 2025 multifamily affordable housing goals set by the FHFA, supporting over 577,000 affordable rental units. Of its 2025 production volume, 66% qualified as “mission-driven affordable housing,” exceeding its 50% goal. In addition, nearly 70% of goal-eligible units financed were affordable to low-income residents earning less than 80% of the area median income (AMI), and about 17% were affordable to households earning less than 50% of the AMI. In total, 93% of units financed by Freddie Mac last year were affordable to households earning at or less than 120% of the AMI.
“Our focus in 2025 was on bringing liquidity to the multifamily market to increase the supply of affordable rental housing in communities across the country,” said Kevin Palmer, head of multifamily. “We stepped up to meet the needs of the market with product enhancements and customer-focused process improvements, and as a result, working with our lenders, servicers, borrowers, and investors, delivered quality, affordable housing to hundreds of thousands of families nationwide.”
Other highlights from Freddie Mac’s 2025 production volume include:
- $1.1 billion in workforce housing preservation loans;
- $2.4 billion in forward conversions;
- The creation, preservation, or rehab of more than 59,000 units of affordable housing through programs focused on workforce housing preservation, forward commitments, and forward conversions;
- A record $2 billion in new funding for its Long-Term Financing Facilities, a 42% increase over 2024; and
- Its Structured Products business closed 10 transactions totaling $2.5 billion, including a record eight Q-Deals totaling $2.2 billion.