Yes, both Fannie and Freddie finance purpose-built student housing meeting program criteria: dedicated student property, established tier-one university market, by-the-bed leasing, parental guarantee structure, and stabilized operations.
What property profile qualifies?
Purpose-built (not converted) student housing within walking distance or shuttle service of a tier-one university (typically a Carnegie R1 research institution or major regional flagship). Stabilized lease-up history of at least three academic cycles. Strong leasing pre-leasing percentages for the upcoming academic year.
What underwriting differs?
Lenders underwrite to the academic-year cash flow excluding summer months, with stress for one academic year of below-target lease-up. Reserve requirements are typically heavier than conventional multifamily to absorb the summer cash-flow trough.
Sources
- Delegated Underwriting and Servicing (DUS) program disclosures · Fannie Mae · current
- Optigo lending program disclosures · Freddie Mac Multifamily · current