Real estate have the potential to earn a significant amount of revenue. According to greystone.com multi-family properties offer more opportunities for investors to grow their wealth than single-family property. Multifamily properties are expensive and investors are likely to require multifamily loans. The investors can obtain multifamily loans from various places but which of them will suit the most?
The video’s narration narrator states that credit unions offer the most attractive loan options for property owners who have multiple families. Why? They do not impose penalties on prepayment as banks do. The amortization duration of loans from credit unions is from 20-30 years.
Investors looking to refinance instead of paying a large rate maintenance fee are better provided through credit unions. Credit unions cannot offer multifamily loans on real estate. However, this does have some drawbacks. In particular, credit unions do not provide interest-only loans.
Investors may also obtain loans for multifamily real estate through the HUD (department of development and housing). Multifamily real estate loans are available from the HUD. These loans come with an interest rate of loan-to-value (loan at value) which is approximately 85 percent with a repayment term that is 35 years. kfmkele3rm.