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Updated over 7 years ago, 04/11/2017
6 unit building loan questions
Hello all,
A bit of a newbie here, been a landlord for about 7 years but always been in smaller multi families (2-3 units homes).
Anyways, I have an opportunity to 1031 into a 6 Unit residential building and had a couple of questions about the financing aspect of commercial loans...
#1. Would a 6 unit building require 20% or 25% down?
#2 would it be ammortized over 20 or 30 years?
Any and all info is appreciated!
Thanks!
Rich