The Federal Housing Finance Agency (FHFA) today announced the 2026 multifamily loan purchase cap structure for both Fannie Mae and Freddie Mac.
Loan purchase caps have been set to $88 billion for each government-sponsored enterprise for a combined total of $176 billion. This is a 20.5% increase compared to 2025, when the caps were $73 billion each.
As with 2025, multifamily loans that finance workforce housing will be excluded from the 2026 limits as part of ongoing efforts to promote affordable housing preservation. In addition, FHFA is continuing to require that at least 50% of the Enterprises’ multifamily business must be for mission-driven, affordable housing.
The FHFA indicated that it will continue to monitor the multifamily mortgage market to ensure sufficient liquidity and support. Caps may be updated as needed; however, if the size of the 2026 market trends smaller than anticipated, the cap structure detailed above will remain in place.
The purpose of the caps is to ensure the Enterprises support liquidity in the multifamily market, especially affordable housing and underserved segments, without crowding out private capital.
Lument’s commitment to affordable and workforce housing is aligned in the Enterprises’ caps for the year ahead. Accordingly, we look forward to leveraging our relationships with Fannie Mae and Freddie Mac, as well as our expertise, on our clients’ behalf.
