The Freddie Mac Student Housing program provides flexible financing including both 30-year amortization and the potential for full-term interest-only. Freddie mac finances the refinance or acquisition of student housing properties.
| Student Housing Financing Options and Requirements | |
| Term | 5-10 years |
| Loan Size | $5 million+ |
| Max Amortization | 30 years |
| Financing Uses | Acquisition or refinance |
| Eligible Properties | - Purpose-built student housing properties; must have a minimum of one
bathroom
for every two bedrooms, and each apartment must have a separate full
kitchen. - Stabilized garden, mid-rise, and high-rise apartment properties that are greater than 50 percent- occupied by student tenants. - Supporting college/university has 8,000 or more students; student housing properties located within close proximity to multiple schools that have a combined student body of 8,000 students or more will be considered. - Property is located less than two miles from college/university or on a public transportation route. |
| Ground Lease | Ground lease for land owned by a college or university may be permitted with prior approval |
| Lease Parameters | - Individual tenant lease by the apartment, bedroom, or by the bed. - Rent under a master lease may be permitted with prior approval. |
| Lease Term | 12 months preferred |
| Lease Guaranty | Parental guaranty preferred |
| Recourse | Non-recourse except for standard carve-out provisions |
| Supplemental Loans | Available |
| Tax & Insurance Escrow | Typically Required |
| Min DSCR DSCR Calculator | 1.3x |
Program Plus Freddie Mac Loans
| Program Plus Options | |
|---|---|
| Fixed Rate Loans | Floating Rate Loans |
| Lease-Up Loans | Manufactured Housing Community Loans |
| Revolving Credit Facility | Student Housing Loans |
| Supplemental Loans | Value-Add Loans |
Affordable Housing Freddie Mac Loans
Other Freddie Mac Loans
| Other Freddie Loan Types | |
|---|---|
| Student Housing Loans | Small Balance Loans |
| Freddie Mac Single-Family Rental (SFR) Pilot Program | |