Commercial Loan Direct (CLD Capital), Offering Student Housing Loans on Apartment Complexes Over $1MM in the 2%'s

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Commercial Loan Direct (CLD Capital) a capital market mortgage banking firm providing commercial mortgages for both owner occupied and investment properties, is now offering rates in the 2%'s for student hosing apartment mortgages.

Apartment loans by Commercial Loan Direct

Apartment loans by Commercial Loan Direct

CLD is currently offering financing for student housing projects at historical low interest rates.

Commercial Loan Direct (CLD Capital) a leading national originator of commercial loans and apartment mortgages is currently offering financing for student housing projects at historical low interest rates.

Commercial Loan Direct's Dedicated Student Housing Apartment Loans provide attractive terms and competitive prices for the purchase or refinance of properties that, because of construction and location, specifically cater to a student tenant base and are not readily convertible to conventional multifamily housing.

CLD's Fannie Mae Student Housing Loan Guidelines:

  • Loan Amount: Over $1,000,000
  • Amortization: Up to 25 Years
  • Longer amortization may be available for higher DSC and lower LTV
  • Minimum DSC 1.35 for anything over 20% student tenancy for fixed rate 1.10 for adjustable rate
  • Maximum LTV 75%
  • Fixed Rate Yes
  • Eligible Property: Specifically cater to a student tenant base. Not readily convertible to conventional multifamily housing. Must be greater than 80% student occupied. Requires 12-month leases and parental guarantees. Food services not permitted
  • Enrollment Requirement: Greater than 20,000 students
  • Occupancy Requirement: 90%
  • Tax and Insurance Escrows. Monthly deposits required. May be waived if certain criteria are met
  • Replacement Reserves Underwritten at a minimum $250 per unit per annum. Must be funded unless unusual mitigating circumstances exist
  • Recourse: Non-recourse with standard exceptions for fraud and misrepresentation
  • Commercial Space Eligible
  • Required Reports: Appraisal, Property Condition Assessment

and Phase I Environmental

  • Prepayment: Yield maintenance or defeasance
  • Assumable: Yes
  • Subordinate Financing - Not allowed
  • Supplemental Loans; Eligible for secondary financing after 12 months
  • Pricing: Tiered Pricing Matrix. More favorable terms available for

higher DSC and lower LTV.

  • Rate Lock: Standard 10-day rate lock period
  • Application Deposit: $20,000. Covers all estimated underwriting costs (including processing fee)
  • Processing Fee: $3,000 non-refundable
  • Origination Fee: Minimum 1%
  • Legal / Closing Fee; Counsel Fee to be determined at application
  • Good Faith Deposit; 2% of loan amount

Commercial Loan Direct a division of CLD Capital is a wholesale commercial mortgage lender and apartment mortgage banker originating for its own portfolio. In addition to offering its own financial programs, CLD has partnered with institutional investors, Fannie Mae, Freddie Mac, FHA, SBA, USDA, life insurance companies, banks and real estate investment trusts to bring a wider selection of additional lending vehicles. With a focus on commercial loans over $1 million, a diversified mix of financing products, a state of the art online commercial lending platform, and a staff of experienced professionals, CLD provides a cost-efficient solution for apartment lending and commercial property financing.
View CLD's Commercial Loan Rates as of today

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Leanne Eicoff
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