Commercial loans longer than 20yr amortization?
Hello BP! I've been working with some buyers on larger apartments around the $1m purchase price and have found some solid 1% rules in great A-B neighborhoods but the issue I'm running into is that commercial lenders are only willing to provide 20 year amortization loans instead of 25-28yr normal. I have heard of Fannie/FHA apartment loans up to 30-35yr amortizations but am very unfamiliar with that space.
Does anyone have any recommendations on where to find longer amortized commercial loan products? Located here in Columbus, OH.
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Real Estate Agent Ohio (#2020001277)
- 614-363-2787
- https://marc.reafcorealestate.com/
- [email protected]