Mortgage in Minnesota?

[Luis Arellano]

Hey folks,

I'm a newbie looking to invest in multifamily units around the Twin Cities. I requested a quote from my local credit union, and they said that for an investment property I'd get 3.5% - 15 year and that they do not offer 30years for investment properties. This is no bueno as I'm looking for 30 years. Is this common for Minnesota?

Also, are there any kind of restrictions when it comes to buying rental properties? for example, In my state they ask for 25% down for multifamily. 

Thanks!

[Tim Swierczek]

@Luis Arellano  That's crazy.  Credit unions are great for some things but why just don't get enough requests to see all the loan options available.  I guarantee you can get 30 years on any property, investment or not.