In an effort to get this new forum started, I thought I'd start with a post that should be easy to discuss given some of you residential folks might have a commercial multi-family property or two or be looking for one.
Personally, I consider small balance commercial deals to be those that are under $500k, but every lender is different. I've seen some lenders offer loans up to $750K under their SBC programs, but those amounts seem to be fairly rare, and from what I saw, the rates were horrible (7-9%)
However, as of late, it appears lenders are becoming more aggressive when it comes to SBC lending. As such, I'd like to get your thoughts about what you are seeing with regards to lender activity. I'd also like to get a sense for what kind of term/rates/LTV's are currently being offered.
While I love the lender I use because of their rates, and the fact they don't require an appraisal, I'm always on the hunt for other lenders.