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Upgraded Affordability Test

We have updated our Affordability Test to reflect a focus on workforce housing as a result of the Federal Housing Finance Administration’s recent adjustments to our 2015 Multifamily Lending Scorecard Cap.  This change may affect the number or percentage of units in a property that meet the very low-income (VLI) or low-income (LI) eligibility parameters.

Recent upgrades include:

  • Better functionality, including automatic rent roll import from the Loan Submission Template (LST)
  • Expansion of the percentage of affordable limits up to 160% of average medium income (AMI)
  • Calculation of capped vs. uncapped loans, taking into account different markets and product types
  • Much better support for larger properties

Sellers must use the updated Affordability Test to determine affordable housing eligibility. Please note that the results have no bearing on whether Freddie Mac will buy the loan; the results are preliminary estimates of affordable housing units and final results will be determined solely by Freddie Mac. The final results may be different from the preliminary estimates calculated by the test. Please note as well that we have added new Affordability Test Directions.

For more information, visit the Affordability Test and Resources page or contact your Freddie Mac Production representative.

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