Fannie Mae Financing for Military Housing 

Fannie Mae Insured Multifamily Loans for Military Housing Developments

The U.S. military risks their lives overseas to protect our freedoms-- but, when they're back home, service members, especially those with families, need quality housing. If you're considering purchasing a multifamily property in an area with a market significantly influenced by a military base, or with a military tenant concentration of more than 20%, a Fannie Mae Military Housing Loan could be the perfect solution. Much like many other Fannie Mae multifamily loan options, Fannie Mae military housing loans offer competitive interest rates, are mainly non-recourse, and are fully assumable (with lender approval.)

Sample Fannie Mae Terms For Military Housing Loans

Size: $1 million+ (no set maximum) 

Terms: Vary, with both fixed and variable-rate options available

Amortization: 30 years

Maximum LTV: 75% 

Minimum DSCR: 1.30x 

Recourse: Non-recourse with standard “bad boy” carve-outs

Prepayment Options: Yield maintenance or 1% prepayment penalty, whichever is larger 


  • Very competitive interest rates

  • Up to 75% LTV

  • Most loans are non-recourse

  • Supplemental loans allowed


  • Requires replacement reserves

  • Requires 85% occupancy or 80% economic occupancy for the 90 days before closing

  • Only available in select markets