Looking at multii-unit properties. Can I get a standard loan if it is 6 units, or do I need something differennt?
Timothy Howard (timehoward)
#116 ranked lender in Arizona - 159 contributions
the max units you can do for a residential loan is 4 units. Anything above that will be considered a Commercial loan.If you do have any questions, I am an expert in multi family units, You can reach me at 435.764.8709 or email me at timothy.howard@apmortgage.com
Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions
Commercial on anything over 4 units
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
All conforming loans require no more than 4 units.. more than that is considered commercial.. which is a whole different world.. Try contacting a local mortgage broker.. they should be able to find you a loan, but don't expect to see the low rates you see advertised everywhere.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347
Jericho Cherry (Jerichocherry)
#54 ranked lender in Virginia - 1,107 contributions
You need a commercial loan.
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