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Updated 3 months ago on . Most recent reply

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Marshall Smith
  • Specialist
  • Jackson, MS
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Best loan options for 5 unit multifamily property

Marshall Smith
  • Specialist
  • Jackson, MS
Posted

Needing advice: What loan options are best for a small-time landlord purchasing a 5 plex.

Im using existing equity and cash to fund my investment.

I own several SFH, all successful, Ive been a landlord for 10+ years.

This deal is priced at 300k.

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Erik Estrada
#3 Mortgage Brokers & Lenders Contributor
  • Lender
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Erik Estrada
#3 Mortgage Brokers & Lenders Contributor
  • Lender
Replied

You may want to try a local bank. There are DSCR lenders that can do the lower price point, however the rate and fees won't be the best.

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