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Multi Family Loans

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Are you looking to get a multi-family property through multi-family loans? Is this actually your first time hearing that term?

If you’re planning to be involved in the real estate world, starting with multi-family properties should be at the top of your priorities. Many people – especially those who are in the real estate business have found success in multi-family housing, and that’s what taking out a multi-family loan is for.

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Understanding What a Multi-Family Loan Is

From its term alone, you can already make out what this type of establishment is.

For the benefit of those who are still confused, a multi-family property is a type of property that’s capable of housing or accommodating more than one (1) family.

To illustrate, you can imagine a single building, which can either be a duplex or small apartment units that are divided into different families.

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What You Need to Know About Multi-Family Loans

Unlike other types of housing and real estate loans, multi-family loans are part of the few that have quite stricter and much keener qualifications.

While rates and eligibility vary from one lender to another, you can expect these loans to be one of the most requiring because of the type of property you’re trying to get at.

Freddie Mac and Fannie Mae

I know what you’re thinking – they’re two (2) celebrities that make up the entire world of multi-family loans, but they’re not.

As a matter of fact, Fannie Mae and Freddie Mac are two (2) multi-family loan financiers that have been assembled by the United States Congress to offer multi-family loans to people.

Fannie Mac has been in the real estate investment scenes since 1938, while Freddie Mac entered the market just in 1970 as a private company. For decades, they’ve done nothing but allow people to have homes at the best and the most reasonable rates possible!

Qualifying For a Multi-Family Loan?

So, are you looking to get or to apply for a multi-family loan? Do you want to invest in a real estate property that you can use as a tool to make money? Or are you looking to build something where you’ll be able to house your entire family?

The qualifications of being able to take out a multi-family loan will depend on your lender, the location of where you plan on building, the costs, and of course, the projected value of the property.

More often than not, the qualifications for multi-family loans would be close or nearly identical to what Fannie Mae is asking for.

In fact, here are a few of the most basic requirements to be able to apply and be approved for a multi-family loan:

  • Down payment of 25 to 35%
  • Cash reserves
  • Medium-to-good credit score (although this wouldn’t be too impacting)
  • Tax return documents
  • And many more!

Where to Get Multi-Family Loans

Both Freddie Mac and Fannie Mae do is they purchase mortgages from lenders, repackaging them as mortgage-backed securities, in which, of course, they can sell as shares to the investing public.

Now, you can get multi-family loans from many different types of financiers. You can get it from banks, from financing institutions, lenders, and the like. But where can you get the best deals possible?

Getting it from a bank wouldn’t hurt. As a matter of fact, that’s the traditional way of how you can get a loan – any type of loan.

However, banks hold a lot of things; they earn money not only from giving loans out. Therefore, they might not be able to match offers and loans that private lenders offer. So, what do you do? Where do you get and apply for multi-family loans? Going with private lenders would be one, if not actually the best option.

To guide you, here are a couple of things you can take note of before you decide to go with a particular financier for your multi-family housing:

  • Perform research about rates in different regions and cities
  • Try to gather information about various lenders (interest rates, terms, etc.)
  • Choose a neighborhood where you’ll know you’ll get profit off of your MFL (if you’re going to use it for business)
  • Set a budget and religiously stick with that budget!

The Best Multi-Family Loan Provider in Florida

Here in the state of Florida, no other real estate loan group is trusted but we here at Florida Commercial Real Estate Loan Group.

For years, we have provided loans to our clients who needed and wanted multi-family loans. We were able to craft up the best deals with the most flexible and the most considerate payment terms!

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Get a Multi-Family Loan From Us!

Unlike banks, we can give you a loan that can go as high as $1 million even if it’s unsecured! Although that’s a different type of loan, you get the idea of how our loans work and the terms that we offer.

For the multi-family loans that you need, you can easily secure the loan using the building or the property that you’re currently eyeing on.

Contact Us Today!

Are you looking to get a multi-family loan in the fastest and the most urgent times possible? Do you want to work with a private lender that doesn’t ask for an absurd interest rate?

Work with us now here at Florida Commercial Real Estate Loan Group and know whether or not you’ll be approved of the loan within a week!

You can negotiate with us to figure out how much you want or you’re comfortable in paying for – and we’ll absolutely work our ways to help you out with it!

Other than multi-family loans, you can also count on us here at Florida Commercial Real Estate Loan Group to help you with other types of loans such as:

  • Warehousing Loans
  • Commercial & Industrial (C&I) Loans
  • Commercial Real Estate Loans
  • Mixed-Use Loans
  • Office Building Loans
  • Condotel Financing
  • Land Development Loans
  • And Many More!

Whatever type of financing you need for a real estate project or property, we will never fail you!

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