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Updated over 6 years ago on . Most recent reply
Lending for property with multiple buildings?
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!