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Updated over 6 years ago on . Most recent reply

User Stats

519
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221
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Brian H.
  • Carolina
221
Votes |
519
Posts

Lending for property with multiple buildings?

Brian H.
  • Carolina
Posted

Hi!

So, I am under contract for 11 rental units in 5 buildings.  3 units in one, 2 units in the other four buildings, all on two side by side properties.

I am being told I cannot, per Fannie and Freddie guidelines, finance this with conventional 30 Y lending.  I was told I would have to originate a loan for each individual building, even though the seller has the bundled in one package.

Anyone here have experience with a situation like this? Curious if I could grab any advice on how to proceed with this... 

Thank you so much!

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