I have a great relation with my bank. I have a 24 unit complex and a 10 unit complex financed thru them. The only issue is that it is a 20 year am, plus its not a fixed rate. Considering going FHA Multifamily loan to get a 30 year am and fixed interest rate. It would help my cash flow quite a bit. Wondering if anyone has had any dealings with FHA multifamily? What are your thoughts? Its not a real common offering so it seems a little hard to find info on it. Thanks!
FHA will only do 1-4 units.
@Matthew Berry ...did you find what you were looking for with your question?
FHA Multifamily is not easy to do, and usually it's not going to be a good choice when going to refinance. Depending on price points and if you haven't found anyone to help out, there may be better options from credit unions, banks, and/or agency financing, depending on your qualifications. PM please.
@Matthew Berry , oh, and for FHA residential, you have to live in one of those 1-4 units for at least a year!
(What have you been doing about buying a primary already?) Cheers...
Mind you, I don't know if this link might help regarding 5+ units?: https://www.hud.gov/program_offices/housing/mfh/pr...