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Fannie Mae Military Housing Multifamily Loan Program

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Fannie Mae Military Housing Loan Program Overview

Multifamily loan program for properties with more than a 20% military tenant concentration, or the subject's market is heavily influenced by a military base.
  • Apartment loans for from $1 million
  • Non-recourse with standard carve-outs
  • Up to 75% leverage
  • 1.30 minimum DSCR
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Fannie Mae Apartment Loans for Military Housing Program Guidelines

Eligible Properties Stabilized 5+ unit multifamily properties with a military tenant concentration greater than 20%.
Eligible Locations Select markets. Call.
Loan Size $1,000,000 with no maximum.
Fixed Rate Term Fixed and floating rate options.
Amortization 30 years.
Minimum DSCR 1.30.
Maximum LTV 75%.
Minimum Occupancy 85% physical / 80% economic for 90 days prior to closing.
Interest Accrual Actual/360 or 30/360.
Prepayment Penalty The greater of 1% or yield maintenance.
Guarantee Non-recourse for most loans subject to standard carve-outs.
Assumable Yes, subject to lender approval.
Supplemental Loan Available 12 months from date of closing of first loan.
Impounds Tax and insurance required.
Replacement Reserves Required.
Borrower Single asset single purpose bankruptcy remote U.S. entity.
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