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Updated about 7 years ago,

User Stats

95
Posts
24
Votes
Carol Bloom
  • Scottsdale, AZ
24
Votes |
95
Posts

Do you need a pre-approval letter for multifamily 5+

Carol Bloom
  • Scottsdale, AZ
Posted

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

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