Confused about loan options on a 14-unit MF

[Jon Schwartz]

Hi everybody!

I'm investigating a 14-unit MF to purchase, and I'm confused about the kinds of loan that are available to me.

The property is a 14-unit MF in a tertiary market for $500k. I have the funds for a 20% down payment, and would easily qualify for a conventional mortgage of this size (on a primary SFR).

Is this a commercial mortgage? Is it possible to get a fixed-rate, 30-year mortgage on the loan? Is 20% acceptable for this kind of purchase? Where should I look for financing (commercial mortgage brokers or national banks or local banks???)?

Thanks so much for any insight!