Under Contract - Finance options on a 4-plex

[Hitanshu Shah]

Hi All

We are under contract on a 4-plex and I am shopping for Loan options. The purchase price is $415 K and we can put 20% to 25% down. Few brokers have recommended a 5 year Balloon loan but I want to explore the best option available in the market currently. 

Thanks

[Robin Simon]

Quote from @Erik Estrada:

Quote from @Hitanshu Shah:

Hi All

We are under contract on a 4-plex and I am shopping for Loan options. The purchase price is $415 K and we can put 20% to 25% down. Few brokers have recommended a 5 year Balloon loan but I want to explore the best option available in the market currently. 

Thanks

If this is an investment property you can get a DSCR loan on a 30 year fixed rate (no balloon).

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