Does a multi-family property need a residential or a commercial mortgage?

multi family property

For mortgage financing purposes, it depends on the number of units & the type of units on the property.

Multi-unit residential buildings will require commercial or a residential financing, depending on the number of units.

Properties with 4 or fewer residential units can usually be financed with residential mortgages. Building with more than 4 units (e.g., apartment buildings) will need commercial mortgage financing.