Loan for a 6 Family Rental Property? 15 year at 5.25%?

[Alex Staunton]

Hi, I'm currently under contract to purchase my first rental property,  a 6 family in Asbury Park, NJ and I'm trying to secure a loan.  Although I've looked (and made lots of offers), I didn't realize that it was a whole different ball game trying to secure a loan for a multi-family vs when I bought a condo as my primary residence.

I was hoping for feedback on the terms below and if they seem reasonable?   High level, it's a 15 year at 5.25% and I'm paying a point origination fee but the full loan details are below.  It's currently fully rented at $9,007 per month ($108k per year).  Taxes are around $13k.  The owner estimated the costs, utilities, maintenance, and repairs to be approximately $35k per year as he pays all the utilities for the tenants.