Does anyone do no seasoning refinance or what is the shortest amount of seasoning required to refinance, for example a 5 unit residential property in PA.
Thank you,
Daniel
PA
Hi,
A 5 unit property is considered a commercial multi - residential loan.
It is not under the 1 - 4 unit residential guidelines!
Talk to a commercial multi - unit lender in PA about terms & conditions.
Just be aware that 1st TD money is readily available but finding 2nds is not for commercial properties and your likely only going to be able to get 75% for 1st TD financing in our current economy.
Property value will be based on cap rate and gross rents multipliers.
Good luck,
GR
Local banks should be able to do a commercial loan. This is true for even 1-4 investment properties. Guidelines are different than conventional so seasoning shouldnt be an issue. If you cant find a bank in your area let the board know.