Connecticut Multifamily Commercial Mortgage Loans

Northeast Financial is your Connecticut mortgage financing resource for Multi Family and Investment Property Loans.  We do everything from 1-4 units, 5+ units, apartments, and Mixed Use.  We offer a Stated Income Commercial Mortgage that is ideal for property investors.  We also offer a Residential (low rates) mortgage for people that buy 1-4 unit properties and plan on living in them.  Here is an overview of our two programs:

Residential Financing

-You can own a maximum of 10 residential properties
-1-4 units
-You can “cash out” if you own up to 4 properties
-5 to 10 properties you can only do a Rate/Term refinance
-660 Fico and up is needed
-75% max LTV on up to 4 properties and 70% LTV from 5-10 properties
-5+ units are not counted for the maximum of 10 properties
-30 year fixed terms with very low fixed rates
-On your primary residence you can rate/term finance up to 95% and Cash Out up to 90% LTV.

Commercial Financing

-Unlimited  investment properties are allowed
-1-4 units and 5+ units are acceptable
-Maximum LTV is 75% for Cash Out refinances
-650 Fico and up is needed
-30 year Terms with a 3 or 5 or 8 year ARM options
-Stated Income program that is perfect for self employed borrowers
-Loans can be done as a LLC/Company

 

We work with many clients that are looking to buy or refinance a multi-family home.  Every deal is different and we have options that cater to all borrower types.  We even offer a 100% financing option through CHFA if you are a first time home buyer and as well we offer a FHA loan that has 3.5% down on Multi Family Properties (both CHFA and FHA require the property be owner occupied).

Call today and lets discuss all of your options.

 

Thank you,

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Michael Meyer
Senior Vice President of Northeast Financial
NMLS#117875
[email protected]
860-876-0572
210 S. Main St Middletown, CT 06457

Company NMLS#117273 

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