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Updated about 7 years ago,
Do you need a pre-approval letter for multifamily 5+
Hello BP Community!
I am receiving conflicting opinions if I need a pre-approval letter from a Freddie Mac lender for a multi-family 5+ units. I will be financing the property using the Freddie Mac Small Balance Loan program. Some of the commercial brokers are asking for a pre-approval letter, some commercial lenders tell me a pre-approval letter is only needed for residential loans, can someone please clarify the process.
Greatly appreciate the help!
Carol