What Is the Absolute Best Multifamily Loan? – Money Saving Amanda
Multifamily loans are essential to buyers because land isn't cheap. Multifamily loans can be gotten at a number of places. Which one is right for you?
In the words of the voiceover in the video, credit unions are among the top loan providers for people who want to invest in multi-family properties. Why? They do not impose penalties on prepayments unlike banks. The amortization time for loans sourced from credit unions is between 20-30 years.
Investors looking to refinance instead of paying an excessive yield maintenance penalty are best served from credit unions. However, there is one drawback to those who take multifamily real estate loans from credit unions. For instance, credit unions don't offer interest-only loans.
The HUD (department for housing and development) offers loans to in...