Loans on property income vs. owner income?

[Brian Sorensen]

Is it possible to find small multifamily loans that are based on property income rather than owner income?

[Rob Beland]

Short answer is yes. There are companies that will lend based on the financials of the property but the interest rates are higher and one I know of requires a minimum loan amount of $300K. When you say small loan that's a relative question I guess. You will have to have sufficient equity in the property as well (at least 30% I think). I can't think of the name of the company but I will see if I can find an old thread that discusses the company.

[Brian Sorensen]

Thanks Rob!

[Darren Eady]

Most definitely.  Contact me through BP and I'll get you started.