Rates for a 6 unit property

[David Wasiloski]

Who’s has good rates on a 6 unit property I’m looking at in Louisiana, between Nola and BR.   I can do 20 or 25% down.  Price is 640k 

It’s NOT going to be owner occupied. 

[Nick Belsky]

@David Wasiloski

A little vague with the question, but here's a stab at it.

If you are looking for short term financing, then expect 8-12% and 1-2 year terms with interest only payments.

If you are looking for mid-term financing, you might be able to get 7-12%, 3,5,10, or 15 yr term, likely with a balloon, maybe two.

If you are looking for long term financing, expect 10-12%, 30 year terms with fixed rate, fully amortized.

If you are looking to add rehab to the project, things change a little, but the 8-12% for a bridge is still likely.

All comes down to what type of loan you are really looking for and what your circumstances are.

Hope this helps some.

Cheers!