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Multifamily Loans

Contour Mortgage can fuel your investment in multifamily properties

Let’s say you’ve saved a significant amount of money and you want to use that influx of resources to grow your investments even further. Buying a multifamily property could be the perfect option—and the best way to do that is to obtain a multifamily loa

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Qualifying for a Multifamily Loan

Multifamily loans are necessary whether you’re looking to invest in a five-story apartment building or renovate and/or develop a long-standing quadruplex. Meanwhile, the process needed to qualify for a multifamily loan is different than a typical home loan. 

But make no mistake, the benefits of real estate ownership—and capital flexibility in today’s world—can far outweigh the costs and obstacles involved in obtaining the mortgage loan. 

Connect with Contour Today to Learn More About Multifamily Loans!

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Types of Multifamily Loans

Conventional Multifamily Mortgage

Ideal for investors who want traditional multifamily financing for 2 to 4 units in good condition.

Government-backed Multifamily Mortgage

These work for an owner-occupant of 2 to 4 unit property or investor with 5-plus units.

Portfolio Multifamily Loan

Mainly for an investor who wants to finance multiple properties at once.

Short-term Multifamily Loan

Perfect for a fix-and-flip investor who wants to purchase a distressed property quickly.

How to Apply for a Multifamily Loan

Applying for a multifamily loan can require extensive documentation for underwriting. You’ll need to submit property management agreements, current lease agreements, insurance policy declaration, tax bills, and perhaps more. 

Other documents you’ll need to submit include property details such as the address, along with photos, number of units, and age of the property; financials including the current operating statement, rent roll, utilities, and copies of service contracts; as well as personal financial statements proving equity, cash reserves, and down payment funds.

Contour Mortgage Will Walk You Through the Process. Call Us Today!

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