Fannie Mae understands that the student housing industry serves a critical need for our country’s higher education and has provided over $12 billion in apartment building loans to the student housing market.
Fannie Mae provides customized apartment loans for student housing properties that address the special needs financing of the student housing market. Multifamily loans are available for properties that are specifically built for student housing with a minimum of 40% of the units leased to undergraduate or graduate students.
- $1 million minimum loan
- Low minimum DSCR of 1.30
- Fixed rates up to 30-years
- Competitive interest rates
- 40% minimum student tenant concentration
- Up to 75% LTV
- 30-year amortization
- Interest only available
- Non-recourse & assumable
- Flexible prepayment options
Fannie Mae Student Housing Multifamily Loan Program Guidelines
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What you need to know about Fannie Mae’s apartment building loans for student housing properties.
Program descriptions, highlights and underwriting guidelines are helpful when considering if an apartment loan program is right for you and your property. However, they don't always tell the whole story. Below is what you need to know about the Fannie Mae Dedicated Student Housing Multifamily Loan program that program guidelines and highlights don't tell you.
- 12 month leases required with parental guarantee or credit worthy students that are employed.
- Properties may be leased on a per-bed or per-unit basis.
- Professional third party management preferred for operators with less experience -- less than two dedicated student housing properties.
- Properties that don't have a student tenant concentration, but are located in a market where the economic impact from a college or university is dominant are required to be underwritten based on Special Category Risk Underwriting.