Freddie Mac Multifamily has enhanced the underwriting process to be more efficient and expedient — ensuring certainty of execution in the midst of a fast-moving and evolving multifamily market.

The Freddie Mac Underwriting Edge

Expertise

Our team of underwriters have experience and expertise in a wide range of financing options. Whether it is a Conventional Fixed-Rate loan, Long-Term Financing, Manufactured Housing Communities (MHC), Seniors Housing or a structured transaction, our underwriters are trained on specific Freddie Mac Multifamily loan products.

At Freddie Mac, we’re constantly listening to our Optigo® lenders and adapting to market needs. For example, we recently updated our full-term interest-only (IO) structures, which aligned the minimum debt-coverage ratio (DCR) with our amortizing and partial IO offerings, with the aim of reducing quote times for our lenders.

These tailored solutions and product expertise help to deliver financing terms that fit each deal’s unique needs.

Stability

In 2025, we introduced the Targeted Affordable Housing 3-10-3 rule to enhance transparency, operational stability and accountability. Under this framework, once a deal is submitted to Freddie Mac, within three business days, the underwriter will provide a deal check-in review. Once the lender submission is deemed a complete underwriting package, Freddie Mac will have 10 business days to deliver a preliminary net operating income (NOI) after which, the lender will have three business days to confirm the NOI and loan structure.

Even though we’re still piloting the 3-10-3 rule, we’re seeing success with this structured approach, as it provides more transparency and control to our lenders and borrowers, allowing them to direct the narrative of each deal, with clear expectations on underwriting turn times for all parties involved.

Presence

We have underwriters located in markets across the country, further ensuring the team behind your deals have a deep understanding of local market dynamics. This regional insight supports our agility and confidence in decision-making, enabling the team to make well-informed judgments about market risks and opportunities that others may overlook.

Our credit and underwriting teams are best-in-class — working closely with our Freddie Mac Multifamily production team, Optigo lenders and borrowers to continue delivering the best execution in the business.

Check out this video to learn more about Freddie Mac Multifamily’s loan execution.