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Updated almost 10 years ago,
Conventional financing for -- Commercial (residential multi units)
Hi -
I'm wondering if anyone has any info (recent or otherwise) to expound upon with regards to financing on 5+ residential units.
IE:
- How commercial financing differs from conventional (duplex, Triplex, 4 plex)
- What are the various downpayment stipulations, percentages [down], combination [if applicable] etc.
- Is there a version of the "owner occupied" in the commercial space and if so what does it (or do they entail) etc?
- Do different interest rates apply to commercial (5 units+ residential) and non commercial (duplex, Triplex, 4 plex)?
- Any other "off the beaten path" nuances THAT DO NOT OCCUR IN NON COMMERCIAL that are unique to commercial that one needs to be aware of etc etc.
- Anything else that would be helpful...
Thanks so very much!!!