Good morning guys/ladies i have a question whats the going rate for a 3 family non owner occupied commercial loan in Paterson Nj
Most private lenders rates start in the 5% range, however, that can go up very quickly depending on the leverage, borrower experience, DSCR, etc.
I tell my clients to look for a credit union or bank that's local. The lowest bank/CU that I work with right now is at 3.55% for a 30 amo mortgage. It pays to shop around.
I'll DM you some people to call.