Multifamily financing

[Stephan K.]

We have many, many SFH and work with local banks. We just had a new line of 1M approved for that. We usually pay around

However, I am looking at a small multifamily (12 units) that we would like to buy. It is about 700K. If possible I do not want to use the existing line.

We can't get conventional financing for our SFH as we have way more than 4/10 houses.

Do you know if FHA or other "normal" programs are available for the multifamily? Do other rules apply the for SFH?

I wanted to check out if it is possible to get better terms.

Any feedback is welcome!

Thanks

Stephan

[Arlan Potter]

@Stephan K.We bought 32 units at $960,000

10% my down payment

20% Seller financing   (10yr am per contract, paying on a 5 yr am)

70% Bank Financing  - 20 Yr AM