Commercial Loan for my first multi

[Rich Hupper]

Hi BP fam

I am about to close on a multi I am buying with cash ( first income generating property for me ). After I fix it up and get my tenants installed I want to get a mortgage and pull most of my cash out. 

Would it be easier to do this with a commercial or residential loan? 

Thank you

[Nathan Click]

@Rich Hupper you could get a CRE loan at 30 years but I think a residential loan will be better as far as interest rates go. The advantage of the CRE loan is that the underwriting will look primarily at the property and not your outside income. CRE loans also tend to be more forgiving of lower credit scores. If you are looking to flip in the future I would recommend CRE rehab bridge loans so that you don't tie up all of your own cash.