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Updated about 7 years ago,
Financing for 6 Unit Multifamily
Hey all, I am about to go under contract for my first multifamily property a 6 unit building in Union County, NJ. I was wondering if anyone in the area had any suggestions as to who to go to for financing. I'm buying it for $600k and looking for 70-75% LTV, 5-7 year term and a 30 year amortization schedule preferably.
I've already gathered a list of regional banks and am ready to call their lending departments but I thought before I do I might as well see if anyone on BP has a reference that they have worked with before with success. All suggestions are welcomed. Thanks!