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Updated about 3 hours ago on . Most recent reply
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Multi-Family Properties advice and Need financing
Hello,
I am a newbie here, and I would love to get some feedback and advice from those with experience. I need to find a lender with a 20% down payment on a multi-family 12 unit property. I only find lenders who can do 70-75% Loan to Value. My credit is in the 700s, and the property is producing positive cash flow.
Most Popular Reply
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Hi Sonia,
Multifamily with 5+ units is considered commercial and almost always requires a larger downpayment, a higher debt service requirement, and a higher interest rate than residential properties.
- Logan Singleton
- [email protected]
- 978-944-5438
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Fenway Funding Group
3 Reviews
5.0 stars