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Affordable Rental Housing

Through Freddie Mac's Program Plus® lender network, Freddie Mac will work with you to finance rental properties that are affordable to families with low- and very low- incomes and rental properties that are located in underserved areas.

Freddie Mac finances mortgages secured by affordable rental properties with both targeted initiatives and products and with its baseline multifamily products.

Freddie Mac has a long history of increasing the availability of affordable rental housing in the United States. In fact, more than 90 percent of the over one million rental units Freddie Mac has financed, largely through its baseline products, are affordable to people whose incomes are at or below area median income.

Freddie Mac's targeted initiatives and products specifically serve families with low- and very-low incomes and/or families living in underserved areas:

• Freddie Mac generally considers low income as income at or below 80 percent of the area median income and very-low income as income at or below 60 percent of the area median income, with adjustments for smaller and larger families.
  
  
• Underserved areas include metropolitan areas (as defined by the Office of Management and Budget) with census tracts having a median income at or below 120 percent of the median income of the metropolitan area and a minority population of 30 percent or greater; or a median income at or below 90 percent of median income of the metropolitan area.
  
  
• Nonmetropolitan areas are considered underserved if they have a median income at or below 120 percent of the state nonmetropolitan median income or the nationwide nonmetropolitan median income and a minority population of 30 percent or greater; or a median income at or below 95 percent of the greater of the state nonmetropolitan median income or the nationwide nonmetropolitan median income.