Medina, OH · Member since 2016 · 24 posts · 7 votes
Hello,
Does anyone have a recommendation for a commercial lender (8-unit property sale price $190k) in the Northeast Ohio area? Property is in Medina county. I have called US Bank and they are competitive, but I wanted to get info from other banks. FirstMerit does is not competitive and many other banks only have amortizations up to 20 years.
A loan that small is going to be best suited for local banks or even credit unions. That being said, you may want to check with Wells Fargo as they have a good small balance program with up to a 25 year amortization.
Us Bank backed out on my deal after wasting 3 wks. I ended up with Forcth Bank who changed their terms two weeks prior to close. Have you tried Wells Fargo. I think there is one in the state.