Multi-family loans can be acquired through mortgage brokers and directly through a variety of financial lending companies. A multi-family loan is designed for the purchase or refinancing of multi-family properties. A multi-family property is defined as one in which five or more dwelling units exist and no more than 20 percent of the net rentable area is rented to or will be rented to non-residential tenants.
Multi-family housing investors can locate economical, flexible, and tailored financing options when they are looking to acquire a multi-family loan. A broad array of financing options exists for a variety of multi-family housing as well as a broad array of loan amounts. Since the loans are often tailored to the specific type of multi-family housing, it is important to note the differences.
Four specific types of multi-family housing properties exist. Multi-family housing communities can include affordable housing, seniors housing, manufactured housing, and student housing properties. This type of property can include apartment buildings, condominiums, or cooperatives with five or more individual units and they can be located within rural or metropolitan...
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