Freddie Mac Multifamily enters each market cycle with the same guiding principle: deliver dependable liquidity while supporting a stronger, more resilient supply of rental housing.

As the needs of borrowers, lenders and renters continue to change, so does our approach. In 2025, we advanced a series of product enhancements and operational improvements, each designed to make multifamily financing more effective and efficient.

Our updates reflect the ongoing evolution of proven programs that our network of Optigo® lenders and borrowers rely on. By improving access to capital and reducing friction in transactions, we continue to lead with a model that is the industry’s most dependable source of multifamily financing.

Expanding Our Business to Reach More Borrowers and Increase Supply

Increasing the nation’s supply of affordable rental housing requires a financing system that meets developers where they are. Our latest program updates help sponsors deliver new and renovated units in communities across the country.

Market-Rate Forwards. We expanded our forwards program beyond targeted affordable housing to include market-rate properties. By giving developers the certainty of future permanent financing and widening eligibility, we are helping more multifamily developments advance from planning to delivery.

Lease-Up Loans. This product continues to support properties that are newly constructed or acquired and still stabilizing. The addition of a “borrow up” feature gives borrowers access to additional proceeds within the first 24 months at first-mortgage pricing. This enhancement allows sponsors to navigate early lease-up periods more smoothly and strengthen long-term execution without pursuing a full refinance.

Preferred Equity Investments. We fine-tuned our guidelines to expand capital options for borrowers. Optigo® lenders can now retain servicing rights when specific terms are met, removing barriers that might prevent a complete capital stack.

Long-Term Financing Facilities. We are seeing record interest in these offerings for sponsors with large, growing portfolios. Our solution simplifies collateral additions and ongoing funding needs, creating a more efficient structure.

Multi-Lender Q-Deals. In order to expand access to capital, we are structuring qualified pools of similar seasoned collateral from multiple lenders into a single security, enabling us to create larger and more diverse pools that execute faster and bring needed liquidity to the market. 

Low-Income Housing Tax Credit (LIHTC) Equity Expansion. In 2025, U.S. Federal Housing doubled our annual LIHTC equity cap from $1 billion to $2 billion, which will help us create and preserve more affordable rental housing units nationwide. Our LIHTC equity investments strengthen communities by increasing the supply of affordable rental housing.

Meeting Market Needs Through Streamlined Requirements

Working to improve the transaction process is as critical as expanding finance solutions. We continue to align standards and make the lending experience more transparent for borrowers and lenders alike.

Major improvements have included:

We have completed a comprehensive review of multifamily insurance requirements in coordination with Fannie Mae. The resulting updates — released throughout the year — create alignment across programs, improving efficiency while maintaining strong risk management necessary to support the market.

Additionally, we modernized the transfer of ownership experience for loans already held in our portfolio. These changes make the consent process smoother and more efficient for borrowers and servicers, and they reinforce our dedication to improving the overall servicing experience.

Staying Focused on Expanding Housing Opportunities

The demand for rental housing remains high across the country, and our Multifamily teams work every day to ensure that capital flows where it’s most needed. Whether it’s by refining long-standing products or modernizing the processes that support them, we remain committed to strengthening liquidity and expanding housing supply.

As we look ahead, we will keep working with lenders, borrowers and stakeholders across the country to ensure our offerings remain responsible and aligned with the realities of today’s market.

©2026 by Freddie Mac.