Freddie Mac has topped the $1 billion mark in low-income housing tax credit (LIHTC) equity investments after re-entering the market in 2018. The latest investments were made in underserved communities in 22 states, Puerto Rico, and Guam and provide more than 8,500 homes for households that struggle to find safe and affordable rental housing, announced the company.

“Each one of these investments has a story worth telling,” said Steve Gildersleeve, who leads the firm’s LIHTC equity efforts as a Freddie Mac Multifamily Targeted Affordable Housing director. “Whether it's housing for veterans who are struggling with homelessness, rebuilding for resiliency after a natural disaster, or providing quality housing for families in rural parts of the country, we are working to support affordable rental housing where it’s needed most.”
Freddie Mac has created an interactive map that details each of its LIHTC equity investments, including property names, locations, the number of units financed, and other key facts.
The Federal Housing Finance Agency (FHFA) gave Freddie Mac and Fannie Mae the go-ahead to re-enter the LIHTC market as investors in late 2017. Each government-sponsored enterprise (GSE) was given an annual investment limit of $500 million.
Within this cap, any investments above $300 million in a given year are required to be in areas that have been identified by FHFA as markets that have difficulty attracting investors. These investments are designed to preserve affordable housing, support mixed-income housing, provide supportive housing, or meet other affordable housing objectives.
The GSEs were two of the nation’s largest LIHTC investors, representing an estimated 35% to 40% of the market, before being placed into conservatorship by FHFA in 2008.