Commercial loan needed for 5 unit apartment?

Question

Would I need a commercial loan for a 5 unit apartment building in Tennessee?  If so any recommendations for a lender?

Nick Lamagna · Answer

Hello. I have someone who can do loans on those typically they are commercial.  You may get better rates and terms from a local small bank but I will message you info.

Nicholas Covington · Answer

@Sean Quinn different places will call it different things. Some people will call it multifamily for 5+ there are plenty of non commercial lenders out there that will lend on this. They can be considered “private lenders.” What price point are you in?

Seth Williams · Answer

Yes, anything over four units is a commercial loan. I’d find a local person down there.

Commercial loan needed for 5 unit apartment?

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