5-8 Unit Investment Properties

MortgageDepot Offers Innovative Multi-Family Loan Options

You’ve been sitting on the sidelines, watching others capitalize on the investment property market and wishing you could experience the same wealth. It’s time to get into the game! At MortgageDepot, we understand how difficult it is to take the plunge into property investment. That’s why we work with lenders who offer loan programs specifically for multi-family properties with between five and eight units.

Is Multi-Family Property Investing a Smart Move?

Multi-family property investments typically generate a predictable income and boast a consistent appreciation rate. On the downside, they demand more of your time, often have high up-front costs and might require you to outsource property management tasks. Do the pros outweigh the cons? Here are three scenarios that might tip your scale toward multi-family property investment:

• You want to diversify your investment portfolio: If your real estate portfolio primarily contains single-family homes, adding a multi-family investment might increase your ROI.
• You want to make more money: More rental units equal more income! In addition, if your property is well-maintained, it stands a good chance of increasing in value, leading to a pleasant windfall if you choose to sell in the future.
• You want to lower your cost of living: If you invest in a multi-family home, why not occupy one of the units? You’ll still receive a steady income stream from the other units, and property management tasks will be easier if you live on site.

MortgageDepot’s Solution for Property Investors

If you are planning to purchase a multi-family property with between five and eight units, we can help. We offer an innovative loan program that addresses the unique needs of property investors. Here are the details:

• Loan amounts of up to $3.5 million are available.
• Applicants with an LTV of up to 75% are considered.
• Applicants with a credit score as low as 660 are eligible.
• There are no tradeline requirements for borrowers with eligible credit scores from all three major reporting agencies.
• A 30-day asset verification is required.
• This program offers a 24-month seasoning period on bankruptcy, foreclosure, short sale or deed-in-lieu housing events.
• Borrowers qualify off of their ITIA payment when they select an interest-only option.
• A minimum of six months of cash reserves are required for eligibility.
• Cash-in-hand amounts of up to $1 million are available.
• Borrowers can use gifted funds to meet down payment requirements.

Contact Us Today!

It’s time to see how a multi-family home purchase can help you reach your financial goals! Contact us today to begin or continue your journey as a property investor.

Connect with one of our loan consultants today to learn more!