Multi-Family 6 unit residential property

[Tarcizio Goncalves]

Hi BP Community, 

I'm looking to buy a 6 unit property but the whole idea of a commercial loan is scary to me. The idea of the amortization, the fluctuation of the interest rates, balloon payment, etc... is holding me back. Commercial loans cant be that bad since there are a lot of people that use them.

Would love to hear from people who have commercial loans or had them in the past. What was your experience with these types of loans? Any tips you can share? Anything I should avoid? Any advice? Are there any lenders out there that would have a program that would let me have a better loan term on commercial residential homes?