Net Worth requirement on commercial/multifamily loan

[Sam L.]

Hi BP, I've got a duplex (and a condo) currently, and am looking to make the jump into 5+ units, but it seems lenders want 100% net worth on these loans. Anyone know of a lender who doesn't have that req? I am looking at places about $2mil, and have 20ish % cash down payment, and have very good documented W2 income and credit, but don't have the $1.5mil+ net worth they seem to want.  Any way to make the leap, or do I just need to keep saving?

[Bjorn Ahlblad]

@Sam L. That is pretty standard in addition they will want 12 mos or more in reserves too, on deposit. If you don't have that in NW you will need to partner with someone who does. If you rely on saving it may take too long.