![](https://www.cornerstonebk.com/wp-content/uploads/2022/04/hand-with-a-key-and-a-wooden-key-ring-house-backg-2022-01-11-21-23-37-utc.jpg)
Whether you want to be a multi family mogul, or you’re looking for a smaller, solid investment for your income portfolio, you’ve decided you’re ready to buy. You’ve done your due diligence and located the perfect property. Congratulations! Part of that process involves multi family mortgage loan requirements in Kansas City.
These requirements depend on the loan and the property, but there are elements that affect every loan. Cornerstone Bank offers loan choices that can suit the property and your budget. Our loan officers are ready to listen to your goals, and talk about how we can achieve them together.
Debt-to-Income Ratio (DTI)
One of the first things we’ll need to know is your DTI, or “debt to income” ratio. Tally what your monthly debt is, and divide that by how much gross income you’re earning each month.
Obviously, the less debt you’re paying out compared to the money you’re bringing in, the better array of multi family loan choices will be available.
You can help your DTI by getting firm lease agreements from the tenants you hope to have. This can qualify as income, thereby lowering the ratio. You can also get an appraisal for market rent.
DTI also brings the vacancy factor/vacancy rate for the multi family property into play. This is the average amount of time the unit is unoccupied while the owner (soon, hopefully you!) looks for a new tenant. Generally, you only get to use 75% of the value of your firm lease agreements or appraisal to help your DTI.
Be sure to talk to one of our loan experts for help.
As we share information about you, and about the multi family mortgage loan requirements in Kansas City, we can narrow down what’s available to you, and help you decide which is best for your needs.
What you need to know about multi family home loans
![](https://www.cornerstonebk.com/wp-content/uploads/2022/04/Man-thinks-about-multi-family-mortgage-loan-requirements-as-he-looks-at-plans.jpg)
More variables that can affect multi family mortgage loans
- How many units do you intend to purchase?
- Are you a veteran?
- Is the location rural?
- Will you live on the property?
- Do you have disabilities, or will the units specialize for disabilities?
How do interest rates affect multi family home loans?
When considering a multi family mortgage loan, consider Cornerstone Bank.
Since 2001, we have been a helpful partner to our customers across the Kansas City metro area, as well as the nation. We take pride in watching our customers thrive!
It takes teamwork to make the dream work. That’s why we’re always available to respond to your questions and concerns. We’re in this together. Find out why our customers stay with us for so many years.
We offer online tools to help you determine the accounts and loans that would best suit your needs. Or if you prefer, visit our Overland Park office, give us a call at 913-239-8100, or send us a message to let us know how we can help.