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Fannie Mae's Affordable Housing Solutions business supports debt financing for housing that meets or exceeds the income and occupancy restrictions of the federal Low-Income Housing Tax Credit program.
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Fannie Mae's definition of affordable housing:
- at least 20 percent of all units must have restricted rents affordable to households earning no more than 50 percent of AMI (area median income); or
- at least 40 percent of all units must have restricted rents affordable to households earning no more than 60 percent of AMI; or
- there is a compelling public purpose -- namely continued affordability -- which is furthered by the property.
To preserve and further advance affordable housing, Fannie Mae has designed products and made favorable underwriting enhancements for affordable housing properties. We are dedicated to making the preservation and advancement of multifamily affordable housing a priority at Fannie Mae. Our properties have rents affordable to those at or below the area median income and the tenants are not paying more then 30 percent of their income for shelter.
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