Financing for MultiFamily Properties

[Tyler Wisner]

Hi everyone,

I’m looking to get into 5+ unit properties, I’m getting familiar with the financing options available, a local bank in the Indianapolis area where I am looking is offering, 4.25% with a 5 year term, 20 year amortization, my question is, are these considered good terms? I’m looking at properties in the price range of $400,000-$500,000, any advice would be really helpful, thank you.