Multi-Family

Multifamily loans allow you to finance properties with two or more units, including condos, townhomes, duplexes, apartment buildings, and a portfolio of properties. There are many ways to finance these properties, and different types of financing work better for different types of commercial properties.

A multifamily home is any residential property containing more than one housing unit. A duplex, townhome or apartment complex is a good example of a multifamily home. If a property owner chooses to live in one of their multifamily units, it’s considered an owner-occupied property.

Here’s an overview of various types of multifamily housing units:

• Duplex: A duplex is a two-story house with a different family living on each floor. They’ll share one front door, but both units will have separate entrances.

• Townhouse: In a townhouse, two families live in one house separated by an interior wall. Both families will purchase their unit separately, and both units have a separate entrance.

• Apartment complex: An apartment complex is a single structure with at least five or more separate housing units. Residents will often share common resources like a swimming pool, parking garage or playground.

• Semi-detached house: Similar to a townhome, a semi-detached house is a single-family home sharing a common wall with another home.

Many of these property types can be funded with a traditional mortgage, while others might require a commercial loan. Rocket Mortgage® doesn’t offer commercial loans, but we can help you get a regular loan to purchase a 2 – 4 unit multifamily property.

Construction Loan

Dreams made out of concrete, wood, and glass. And lots of coffee.

Customized loan programs and competitive rates as you build from the ground up. Enjoy an unparalleled level of service at each phase of your project -- from blueprint to fully furnished.

Programs

• Commercial Owner-Occupied, and Commercial Real Estate Investor Construction Lending

• Single Family Residential, and Tract For-Sale Property Development

• Multi-family, Industrial, Retail, Office, and Mixed-Use Income Property Development

• Variable interest only payments for terms up to 36 months with extension options

• Competitive Interest Rates and Loan Structures

• Focused on western U.S. markets

If you are considering a reverse mortgage, we can help walk you though the pros and cons based on your unique situation. Call us today to discuss your options and if a reverse mortgage could be a benefit to you.