A need a lender who does 5 units

tyeadon · #1 (**permalink**) 07-19-2006, 02:57 PM

I have a borrower who can put 20% down on a 5 unit building, owner occupied/stated income w/ a credit score of 657. Please help.

Greg · #2 (**permalink**) 07-26-2006, 05:40 PM

Yikes... I have yet to find a lender for over 4 units. Never needed one though. Sorry.

Erik · #3 (**permalink**) 07-26-2006, 07:32 PM

You might try Metwest Commercial:

http://www.mywholesalelenders.com/lo...s-100k-to-1mm/

GLOAT · #4 (**permalink**) 07-31-2006, 03:32 PM

Loan Amount?

tbickle · #5 (**permalink**) 08-10-2006, 08:29 AM

Delta Does that.

tyeadon · #6 (**permalink**) 08-10-2006, 09:33 AM

Thanks for the info guys.

GeorgeWBooth · #7 (**permalink**) 08-10-2006, 09:41 AM

Tyeadon,

You may need to take a different appraoch on this and consider the commercial application and call this structure a "Garden apartment" which would open up your lenders dramatically. Find out exactly what the zoning says and how it's classified. Multi-unit lenders are dime a dozen, let's first see how they would classify it.

George

Greg · #8 (**permalink**) 08-10-2006, 06:50 PM

http://www.aptlending.com/apartments/default.asp

GLOAT · #9 (**permalink**) 08-10-2006, 07:05 PM

Popular Finance Does It Too.
Resmae And Bnc Are Supposed To Be Rolling Out A 5+ Unit Program Soon.