Louisiana Personal 30yr mortgage

[David Pearson]

Im looking for a mortgage company that will finance a 5 plex in a 30 year term in the shreveport bossier area. Please help out thanks. I have went through one but they can't go over 4 units without it being considered a commercial property. Any advice welcome on how to finance this project.

[Jeff V.]

David,

To my knowledge 1 - 4 plex is considered residential.  When you break the 5 plex threshold, 5 and above is considered commercial.  Those are the lending rules that I'm aware of.

Which is why its fairly easy to house hack 1 - 4 plex and use as a primary residence to get extremely low down payments... but that wouldn't work for the 5 plex being its commercial...

Jeff