When you purchase an apartment building, also commonly referred to as a multi-family, rental, investment, income or multi-unit residential property, you are subject to a set of rules that are different from those that apply to the mortgage of a single-family house. Documentation, profitability, value of the guarantee, cash flow of the building, and (for an investor who owns several buildings) cash flow of the entire real estate portfolio are all aspects that need to be taken into consideration when asking for a mortgage loan on an investment property. The lender will also consider other aspects that are specific to the building: location, income and expenses, environmental study, etc.
Maximum financing for a multi-unit residential property:
85% loan to value
Your consultation costs nothing and there is never any obligation to use my services. By consulting a commercial mortgage broker, you will maximize the chances of having your mortgage loan approved and avoid paying unnecessary fees.