Multi-Family Properties advice and Need financing

[Sonia Jones]

Hello, 

I am a newbie here, and I would love to get some feedback and advice from those with experience. I need to find a lender with a 20% down payment on a multi-family 12 unit property. I only find lenders who can do 70-75% Loan to Value. My credit is in the 700s, and the property is producing positive cash flow. 

[Logan Singleton]

Hi Sonia, 

Multifamily with 5+ units is considered commercial and almost always requires a larger downpayment, a higher debt service requirement, and a higher interest rate than residential properties.