How to acquire financing with a bank loan with a 30 year fixed
In all of my reading and listening to podcast/webinars I have not been able to figure out how to get a 30 year fixed rate loan thru bank financing. Is it possible to get a 30 year fixed loan without actually living in the home for the first year? I feel like this is not as complicated as I have made it. Do I just need to call enough lenders to find one that would lend on those terms?
I do know that when I form an LLC I can get commercial loans at 20 year amortization schedule and at year 5 year there is a ballon payment or the financial institution will evaluate the loan and rate and renew the loan.
Be kind to this newbie investor.