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Updated over 5 years ago,
Lending for Multi Family Homes with more than 4 units in NC
Hi,
My husband and I are budding real estate investors in NC. We own two rentals and plan to purchase some multi family homes in the future. We can find a ton of banks that will finance duplexes, tris, and quads. However, we are having a hard time finding any banks or credit unions who will finance a multifamily home with more than 4 units. We are looking at 4-8 unit properties. Does anyone know of a bank or lender in NC that will finance 4-8 unit properties that are LESS than $750k (I think there is some rule about that number)?? Bonus points if you know of a loan product that would let you roll some repair/remodel costs up into the loan!
Thanks!
Emily