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Updated about 5 years ago on . Most recent reply

Ryan Corcoran's profile image
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Ryan Corcoran
  • Investor
  • from Pawtucket, RI
  • Member since Dec 29, 2016
  • Posts 58
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Ryan Corcoran's profile image
Ryan Corcoran's profile image
Ryan Corcoran
  • Investor
  • from Pawtucket, RI
  • Member since Dec 29, 2016
  • Posts 58
  • Votes 34
  • Experience 8 Yrs
  • Investments 15
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Ryan Corcoran
  • Investor
  • Pawtucket, RI
34
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Multi-Family and Apartment Investing

Commercial Lender MA

Ryan Corcoran
  • Investor
  • Pawtucket, RI
Posted

Hi BP, 

A partner and I have locked in a 10 unit property. We have tried several banks so far and are unable to find an underwriter willing to give a 30 year commercial loan at this time due to COVID and the PPP loans taking up most of the commercial lending. Does anyone know any underwriters for banks that may be willing to lend? We are looking for 25% 30 year fixed loan. Thank you! 

Ryan 

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Jaysen Medhurst
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  • from Greenwich, CT
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Jaysen Medhurst
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Jaysen Medhurst
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Jaysen Medhurst
  • Rental Property Investor
  • Greenwich, CT
Replied

COVID-19 aside, you won't find many 30-year commercial loans to begin with, @Ryan Corcoran. Typically, they are 20- or 25-year. If you really need to do a 30-year, try the local Credit Unions. You may have better luck.

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