What rates are available on 8-16 units $250K - $400K

[Toben B.]

Hello,

I am looking at possible rates and terms I can expect when buying 8-16 unit apartments. 

The price will be anywhere from $250K-$400K.

I already have 15 rental units, I am just trying to add more. 

Can I get a longer than 20 year amortization period? Can I get better than 6%?

Thank you!

[Seth Williams]

I’d say you certainly can, I have balls

Up by me that will do something like this mid to low fives, and do a 30 year schedule but 20 year term, make sense? Find a small private bank or credit union, it all works on relationships once you are starting to scale in my opinion, but it’s all going to come down to the type of asset it is! Good luck! 

[Theo Hicks]

I would reach out to a local mortgage broker, provide them with info on the type of property you plan on investing in, and ask them for estimated loan terms.