"There is no market for 5+ units?"
Hi BP,
First time poster, long term listener/reader. I was talking to a lender the the other day and they mentioned they do not lend on MFH with 5+ units. Asking them why they said: "There is no market for 5+ units.". Pretty bold statement given that they are a nationwide lender. Perhaps the market was for mortgages vs. as an investments/rental market.
Wondering what the take is on that from the group? Is this common stance for lenders take, or is there some truth to that statement?
Appreciate the comments
Most Popular Reply
#2 House Hacking Contributor
- Real Estate Agent
- Los Angeles, CA
Often times lenders refer to "markets" meaning who they ultimately sell the loans to. If they are brokering it out, their network may not want them right now, because there is some volatility with commercial loans right now (at least from what I have been reading).
There are lenders who will bite. Check out local credit unions and see what they offer.