30 year fixed mortgage for 6 unit rental in Colorado? Possible?

[Jeremy Pratt]

Hello All,

My parents are currently working through their first 1031 exchange and have run into a brick wall of 4-plex or less. My question: are there any lenders that will write a mortgage for a 6 unit rental property in Colorado on a 30 year fixed rate? We have been told that anything more than 4 units requires a commercial loan and commercial loans are usually only written with an ARM. Is that true?

Thanks for all your help, kind people of BB