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Getting a residential mortgage for a 6plex

REIGirl

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Jun 7, 2017
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43
Greetings!

Is anyone aware of lenders that will qualify a 6-plex under the residential guidelines as opposed to commercial. I would like to avoid all the extra cost that are involved in getting a commercial mortgage. Thanks!
 

Mike Milovick

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Mar 15, 2008
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Yes. One lender in Ontario to my knowledge. Everyone else treats above fourplex as commerical. Is your REALTOR helping you with your purchase? Mike
 

REIGirl

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Jun 7, 2017
Messages
43
Yes. One lender in Ontario to my knowledge. Everyone else treats above fourplex as commerical. Is your REALTOR helping you with your purchase? Mike
Hi Mike, thank you for your reply. I have an agent working with me but was referring me to commercial lenders. I will like to do this with a lender that wont charge fees. can you please send me the lender contact if you don't mind. Thanks
 

kmcintyre

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May 17, 2022
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Hey!

We indeed have access to a lender with A rates who will do up to an 8 plex no premium or lender fee on the residential side.

If you have any questions don’t hesitate to reach out. My email is [email protected]

I am a licensed mortgage agent.
Greetings!

Is anyone aware of lenders that will qualify a 6-plex under the residential guidelines as opposed to commercial. I would like to avoid all the extra cost that are involved in getting a commercial mortgage. Thanks!



Greetings!

Is anyone aware of lenders that will qualify a 6-plex under the residential guidelines as opposed to commercial. I would like to avoid all the extra cost that are involved in getting a commercial mortgage. Thanks!
 

ihocking

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Registered
Joined
Jun 26, 2012
Messages
5
Greetings!

Is anyone aware of lenders that will qualify a 6-plex under the residential guidelines as opposed to commercial. I would like to avoid all the extra cost that are involved in getting a commercial mortgage. Thanks!
Yes , just call Rbc directly , they will do up to 6 units. Usually with 25% down and of course they will want to see the numbers and it needs to cash flow.
 
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