To promote equitable access to affordable housing that reaches low- and moderate-income families, minority communities, rural areas and other underserved populations, the Federal Housing Finance Agency has proposed new housing goals​ for Fannie Mae and Freddie Mac for 2022 to 2024.

FHFA is proposing two new single-family home loan purchase subgoals for Fannie and Freddie—one to target minority communities and one to target low-income neighborhoods. These subgoals would replace the existing low-income areas subgoal. FHA says the new minority census tract subgoal is designed to improve access to fair and sustainable mortgage financing in communities of color. 

For a mortgage to qualify under the subgoal, a borrower must have an income at or below area median income (AMI). The property must be in a census tract where the median income is below AMI and minorities make up at least 30% of the population.