Purchase
Finance the acquisition of a multifamily property.
Property investment
Multifamily Housing
Make your investment property work for you with financing solutions tailored to your needs.
Apply →Financing for organizations
What is a multifamily housing loan?
Generally, properties with up to four units are financed with residential mortgages, while those with five or more units are financed with commercial real estate loans. This can change the financing process.
Renovation
Finance improvements to increase your property's value or performance.
Refinancing
Looking to improve the terms of a current loan.
The application process
These are the general steps. An advisor will guide you through each one.
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01
Submit your application
Complete the online application or schedule a conversation with an advisor.
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02
Guidance and prequalification
An advisor will review your project and guide you through the available options.
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03
Document review
You'll gather and submit the supporting documentation requested.
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04
Proposal
We'll present a financing proposal with terms for your organization.
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05
Evaluation and processing
We'll verify the information and evaluate the application.
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06
Documentation and disbursement
You'll sign the loan documentation and the funds will be disbursed.
Key financing terms
- Amortization
- The payment schedule by which the loan balance is paid down over time.
- Balloon payment
- A larger final payment due at the end of the term, when the loan isn't fully amortized.
- Rate review
- An interest rate adjustment at an agreed-upon point during the life of the loan.
- Fixed rate
- An interest rate that doesn't change during the agreed-upon period.
- Down payment
- The portion of the project or property cost that your organization contributes.
Not all applications will be approved. Approval is subject to credit evaluation, income, property appraisal, and other requirements. Rates, terms, and conditions are subject to change without notice.
Start your application
Complete the form below and an advisor will contact you.
Frequently asked questions about Multifamily Housing
What is a multifamily housing loan?
It's financing to purchase, renovate, or refinance a property with multiple housing units.
What's the difference between a mortgage and a commercial loan?
Generally, properties with up to four units are financed with residential mortgages, and those with five or more units are financed with commercial real estate loans.
What do I need to apply?
You'll typically need property information, rental income, financial statements, and applicant details. An advisor will confirm the full list.
What are the rates and terms?
They depend on the property and the evaluation of your application. An advisor will present the available options.
Do I need to be a member of Christian Credit Union to apply for financing?
An advisor will confirm your organization's membership requirements when they receive your application.