Updated Affordability Test
January 4, 2017
We have updated our Affordability Test to reflect the Federal Housing Finance Agency’s (FHFA) volume cap exclusion changes to our 2017 Multifamily Scorecard. For loans funded under Freddie Mac Multifamily’s Green Certified program, effective immediately, a minimum of 20 percent of units in a multifamily project must be deemed affordable in order for Freddie Mac to take advantage of the volume cap exclusion for this program.
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.
For more information, visit the Affordability Test and Resources page or contact your Freddie Mac Production representative.