Commercial mixed use loans

[Thomas DePaul]

I am in the process of purchasing a commercial mixed use property. It has a small grocery store on the first floor, a 3 bedroom apartment on the 2nd and 3rd floor and 8 garages that rent at the back of the property. Does anyone have any good spots to go for financing. Purchase price is going to be around $180k, I am looking to put 20% down. A local bank has really good terms with 30% down but that is more than I want to come out of pocket right now and all the local banks want 30% down.

[Alex Bekeza]

@Thomas DePaul 70% is going to be the standard from 9/10 banks but I have of one lending source who entertains 80% on mixed use purchases only problem is the loan minimum is $250k...  If you come across a similar deal and want to see if we could qualify for 80% let me know.  

For 80% LTV expect to have to have over 700 FICO and experience managing/owning commercial property.