How to find multi family loans

[Mike Bianchi]

Hey everyone ! I’ve been investing for a little while but most of my deals have been commercial retail and some Mobile home parks and for the most part I’ve gotten commercial loans such as 20 year amort , 5 year fixed , 5% , somewhere around there . I’m looking for a 20-35 unit apartment complex , and would like to know how to get decent terms for multi family when we do go under contract , that can stretch to a 25 -30 year amort , maybe 7-10 year fixed , and lower rates around 3.5-4.25 and possibly non recourse . I meet loan requirements , net worth , experience , dcr will always be above 1.30 for any prospective property we look at . But not sure how to find those lenders . Any help would be grateful . Thanks again

[Mike Bianchi]

@Spencer Gray

Awesome , thanks for the elaborate response Spencer . The local banks near me tend to give me the same response , 20 year amort and recourse , maybe I should check more banks .

If I were to go the broker path , Does it matter having a broker in the region ? Finding a fanny mae or Freddy Mac broker may be my best option in the beginning