Freddie Mac Introduces Student Housing Mortgage

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Freddie Mac has launched the Freddie Mac Student Housing Mortgage, which provides financing for the acquisition or refinancing of multifamily properties.

The Student Housing Mortgage is for purpose-built student housing and multifamily properties that are more than 50% occupied by students. The new product offers flexible terms that include 30-year amortization and the potential for full or partial interest only, as well as up to 80% loan-to-value financing, Freddie Mac says. The product is available to all Freddie Mac Program Plus Seller/Servicers.

Eligibility requirements include the following:

  • Proximity to a college or university of two miles or less, or on a public transportation route;
  • A college or university size of at least 8,000 students. However, Freddie Mac will consider properties located close to multiple schools that have a combined student body of at least 8,000; and
  • A nine- to 12-month lease (a ground lease for college- or university-owned land and master leases with the college or university may be permitted).

Source: Freddie Mac

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