Property type
Student housing loans, matched to your deal
A student housing loan finances purpose-built or converted housing that leases by the bed to students near a campus. It is a multifamily subtype with its own underwriting: leases turn over on the academic calendar, pre-leasing is the leading indicator lenders watch, and the enrollment and housing policy of the nearby university matter as much as the submarket. Lenders differ widely on how they treat those factors, which is why the same asset is worth putting in front of several programs at once.
- 5,000+loan programs screened
- 5–8matches on a typical deal
- $0 upfrontto submit and compare offers
- 0.50–1.00%broker fee, paid only at closing
Who is a student housing loan actually for?
Owners and developers of housing whose tenants are students: a garden community walking distance from campus, a mid-rise with by-the-bed leases and parental guaranties, or a conventional building being repositioned toward student demand. If the property leases by the unit to the general public and simply happens to be near a university, it is usually financed as ordinary multifamily instead.
What do student housing lenders disagree about?
Concentration and turnover. Programs take different views on how much of the rent roll can depend on one school, how to underwrite a property that leases once a year and sits partly empty over the summer, whether parental guaranties count toward tenant credit, and how the university's own housing pipeline affects long-run demand. Some lenders treat the sector as core multifamily and others as a specialty, and the pricing follows that view.
What should be ready before a student housing file goes out?
The current rent roll by bed, the pre-leasing pace for the coming academic year against prior years, enrollment history for the campus, the walk distance or shuttle plan, and the operating statements with turnover costs shown separately. Files that arrive with pre-leasing already reconciled to the budget get taken seriously faster, because that number is the first thing a student housing desk asks for.
How does getting matched actually work?
You describe the deal once — about five minutes — and it is screened against 5,000+ loan programs. Most deals return 5–8 matches, and the median first offer arrives in under an hour. There is $0 upfront; the fee is 0.50–1.00%, paid only at closing.
YieldStack is a commercial mortgage brokerage, not a lender. The rate, the leverage and the credit decision belong to the lenders competing for your deal; our job is making sure the right ones see it at the same time, so the terms you compare are real competition rather than one desk’s appetite.
What do lenders actually look at?
Every program weighs these in its own way — which is the argument for several quoting at once.
- Pre-leasing pace for the coming year, and how it compares with prior years
- Distance to campus and the university's enrollment trend
- Whether leases are by the bed, and whether guaranties back them
- Turnover cost and summer vacancy in the operating history
- The operator's experience with student-specific management
Frequently Asked Questions
Is student housing financed like regular apartments?
Often through the same lenders, but underwritten differently. The academic-year lease cycle, by-the-bed rents and campus dependence all change how a lender reads the income, so the file should show them plainly.
Do agency programs finance student housing?
Yes, subject to their own eligibility rules on things like distance to campus and enrollment size. It is one execution among several; banks, debt funds and bridge lenders also compete for the sector.
How does pre-leasing affect the loan?
Heavily. A strong pre-leasing number ahead of the academic year is the clearest evidence a lender can get that the coming year's income is real, and a weak one invites a lower sizing or a holdback.
Can a conventional building be converted to student housing?
Yes, and it is usually financed as a value-add or bridge loan until the new lease structure is in place, then refinanced into permanent debt once the by-the-bed income is proven.
Do lenders care which university it serves?
They do. Enrollment size and trend, the school's own housing supply, and whether it requires on-campus living for underclassmen all shape the demand story a lender is being asked to rely on.
What about ground-up student housing?
It is a construction loan with a student-specific lease-up assumption. Lenders will want the delivery date to land before the academic year starts, because missing it costs a full leasing cycle.
Is YieldStack a lender?
No. YieldStack is a commercial mortgage brokerage, not a lender. Every term sheet comes from a lender in the network and is subject to that lender's underwriting.
Does it cost anything to see terms?
No. It costs $0 upfront to submit a deal and review offers; YieldStack's broker fee is 0.50–1.00% of the loan amount and is paid only at closing.
Is financing guaranteed?
No. Every credit decision is made by the lender; YieldStack arranges the introductions and negotiates on the borrower's side, and no loan, rate, or closing is guaranteed.
Next step
One deal.Several lenders.
YieldStack is a commercial mortgage brokerage, not a lender.