Is there a lender for a 5 unit in Northwest Indiana
Hey BP,
I have been trying to refinance a 5 unit building in Northwest Indiana. I have found that the banks in my area do not like 5 units because the loan won't be big enough. I have been searching for a broker to get the loan done to find out that they want 9 to 12% with a 3-year adjustable rate and a prepayment.
What has been BP experience with getting loans done for a smaller commercial apartment building? Can anyone guild me to a lender?