Apartment Bridge Loan for Purchase - NEED Recommendations

[Sean Morrisey]

I have two buildings under contract, that host 25% vacancy, and a traditional commercial bank will not finance them. Looking for a lender that can finance a loan of 80/20 with a rate under 7.5% for a 12 to 18 month period in the State of Illinois.

Recommendations?

[Greg Dickerson]

Originally posted by @Sean Morrisey:

I have two buildings under contract, that host 25% vacancy, and a traditional commercial bank will not finance them. Looking for a lender that can finance a loan of 80/20 with a rate under 7.5% for a 12 to 18 month period in the State of Illinois.

Recommendations?

Make sure to talk to several banks. They are all different and have different lending parameters, rates and terms.