Needing a lender for 6 unit mfr

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Needing a lender for 6 unit mfr

Dennis O'LoughlinPro Member
Member since 2023 · 47 posts · 23 votes

My wife and I currently have 2 SFR both with great tenants and generating income. Our current lender, who is FABULOUS, can only loan on quad units maximum.

We are needing suggestions for lenders who can work with a small company getting started, with half down, for a 6 unit MFR in Illinois. We try to avoid the large banks because we have had horrible luck with their lack of personalized service and them expecting everyone to fit into this neat little box so we prefer credit unions or brokers who will work with you.

Thanks for the help.  

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  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 665 votes
    2y
    Quote from @Dennis O'Loughlin:

    My wife and I currently have 2 SFR both with great tenants and generating income. Our current lender, who is FABULOUS, can only loan on quad units maximum.

    We are needing suggestions for lenders who can work with a small company getting started, with half down, for a 6 unit MFR in Illinois. We try to avoid the large banks because we have had horrible luck with their lack of personalized service and them expecting everyone to fit into this neat little box so we prefer credit unions or brokers who will work with you.

    Thanks for the help.  


    Hi Dennis, There are a ton of approved, DSCR brokers and lenders on BiggerPockets. You have come to the right place! I would recommend looking at the find lender tab, but also brokers who are investor focused that can connect you with multiple different options would probably provide you with the largest benefit.

    [email protected]860-538-3672
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  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    2y
    Quote from @Dennis O'Loughlin:

    My wife and I currently have 2 SFR both with great tenants and generating income. Our current lender, who is FABULOUS, can only loan on quad units maximum.

    We are needing suggestions for lenders who can work with a small company getting started, with half down, for a 6 unit MFR in Illinois. We try to avoid the large banks because we have had horrible luck with their lack of personalized service and them expecting everyone to fit into this neat little box so we prefer credit unions or brokers who will work with you.

    Thanks for the help.  




    We can likely help you get funding for this 6 unit. Hit up HoltonWise's Investor Network by following the link below.

    https://www.holtonwisepropertygroup.com/financing/


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