Is 5 units in 1 loan same as multy?
Interested in a new build building with 5 units originally advertised as a multifamily. After talking to the office, they said these are individual units but that their commercial loan officer can do 1 mortgage that includes all 5 units. Will this have the same tax benefits/consequences as if this was one single address with 5 units?
Thanks in advance.
Before you think about taxes, you'll want to know that anything above 4 units is considered commercial property, not residential. That means that you'll need a commercial loan.
