The details
Expect longer timelines than residential loans, since commercial underwriting includes rent rolls, operating statements, and sometimes environmental reports.
Smaller multifamily buildings, 5 to 10 units, often qualify for streamlined small-balance commercial programs.
Run it yourself
Related loan programs
Multifamily Loans (5+ Units)
A multifamily loan finances apartment buildings with five or more units and is underwritten as a commercial loan on the property’s net operating income (NOI).
DSCR Loans
A DSCR loan is an investment-property mortgage that qualifies you on the property’s rental income divided by its monthly payment (the debt service coverage ratio).
Portfolio & Blanket Loans
A blanket (portfolio) loan finances several investment properties under one note, one closing and one monthly payment, with release clauses that let you sell individual properties.
More answers
- Is there such a thing as a free mortgage?
- Can you get an interest-free mortgage?
- What is a no-closing-cost mortgage?
- What is the difference between lender-paid and borrower-paid compensation?
- What does “lender-backed” mean on a mortgage?
- Mortgage broker or bank: which is better?
- How is DSCR calculated for a mortgage?
- What DSCR ratio do I need to qualify?