Commercial loan w/ Fannie/Freddie
I'm looking into a Fannie/Freddie commercial mortgage for a new purchase and have been speaking with an agency lender and a commercial mortgage broker. I received different information from both regarding required ownership percentage for anyone who will be on the mortgage. One said anyone who will be signing on the mortgage(and using their net worth) has to have a minimum of 20% ownership and one said only 5% ownership is the minimum. Does anyone know the answer? Thanks!