Finance the purchase of a multi-family property.
A multi-family loan is a type of financing arrangement specifically for the purchase or refinance of a residential property that houses multiple families or tenants within a single building or complex. Often referred to as multi-family housing or apartment buildings, properties financed can include duplexes, triplexes, fourplexes, townhouses, condominiums, and larger apartment complexes.
A multi-family loan can be used for a variety of purposes, such as the purchasing of a multi-family property or the refinance of an existing one. These loans can also be used to fund property improvements or renovations.
When seeking a multi-family loan, you will need to meet certain credit criteria, including credit score, income verification, and debt-to-income ratio assessments. At Upstate Bank, we may consider the potential rental income from the multi-family property when evaluating your ability to repay the loan. This income can help you qualify for a larger loan, depending on your situation.
We have provided multi-family loans to many investors and developers in Upstate New York, and we look forward to working with you. Our lending team is professional, committed, and ready to help you fund your next venture.
When you need a multi-family loan, we can help you secure the right financing quickly, so you can move forward with your project. Apply today for a multi-family loan through us or contact us directly if you have any questions about this lending option.