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Updated about 5 years ago,

User Stats

37
Posts
11
Votes
Simon Hernandez
  • Rental Property Investor
  • San Jose, CA
11
Votes |
37
Posts

Shopping for mortgage on 5-8 unit multifamily

Simon Hernandez
  • Rental Property Investor
  • San Jose, CA
Posted

Hello everyone, I'm about to go under contract on an SFR that I'm 1031ing out of. I'm looking at purchasing something in the 3-8 unit range. Multiple SFRs so I'm comfortable with residential loans, but if I find something in the 5-8 unit space I've no frame of reference with which to analyze the numbers. Assuming previous SFRs but first time MFR, no issues with DTI/credit score/etc and 25% down, what kind of terms should I be expecting, broadly speaking? I'd prefer a fixed rate if it was offered at 15+ years.

Thanks!

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