How do I find lenders with the best multi-family terms for DSCR loans?

[Annette Barnett]

There have to be tens of if not hundreds of thousands of lenders in the USA.  I may or may not have taxes available for this.  I'm under contract for the sale of a single family home, doing a 1031 exchange into a multi-family property.  I'm imagining credit unions and banks offer the best terms?  And w/o taxes, where would you all suggest I start looking?

[Robin Simon]

Quote from @Doug Smith:

It really depends on the transaction. The banks/credit unions you mention are going to require a global cash flow, meaning they will look at all income and expenses. That's not what a DSCR is. If it's a Fannie/Freddie/FHA type loan, then banks and credit unions will usually not be the best option. Perhaps you can tell us more about your deal and we can help.

This is accurate - many banks and credit unions will do loans on multifamily properties, but these aren't really "DSCR Loans" and are going to have some advantages and disadvantages vs. the true Multifamily DSCR Loan Product. Also in the current environment, a lot of banks are tightening up lending right now so it might be tougher than say a couple years ago to get this type of financing.

Here is a good breakdown of Multifamily DSCR Loans vs. traditional CRE Multifamily Loans

https://www.biggerpockets.com/...

Also, I recommend BP's Find a Lender tool as well for searching out and shopping lenders!

https://www.biggerpockets.com/...