Financing for a 6 plex in Minneapolis

[Quincy P.]

Hi BiggerPockets, I have a friend that is looking for financing on a 6-plex in Minneapolis, MN. Purchase pride is $450K and he can put down 25%. Being that it is considered commercial he is getting turned down left and right for financing. Any input would be greatly appreciated. Thanks, Quincy

[Marcus Johnson]

Try first state bank of Rosemount. I just did a 15 year commercial cash out refinance @ 76% LTV with a 4.25% interest rate. My next commercial loan they will accept 20% DP and a 15 year term.