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What kind of mortgage options are available for a multi-unit (6+ units) property?

by stephen.murphy633 from Riverside, Rhode Island. Dec 14th 2015 Reply


Stephen a 6 unit property must be financed with a commercial mortgage while I don't offer them directly I am a Rhode Island lender and would be happy to provide you with a referral

Dec 15th 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

Yes, generally has to be a commercial loan - most of us here are residential lenders and limited to 1-4 family homes.

Dec 15th 2015
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

Anything greater than 4 units is considered commercial. You would need a commercial lender. Typically, you will need a larger down payment, and expect the rates to be a little higher as well. Scotsmanguide.com is a good source to find lenders willing to do your property. 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

Dec 15th 2015
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Anything over four units is a commercial loan. There is no set guidelines in commercial loans like there is in residential.

Dec 15th 2015
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