Commercial Loans on Residential Multi?

[Nicole (Dunlap) Pendergrass]

Does anyone happen to know of lenders that will fund a commercial loan on a residential property (3 units)? Thinking of I/O payments, amortized 25-30 yrs with a balloon in 5-7 years? I know non-QM lending basically shut down, but I've seen some articles that it may be inching back...

If so, what are the normal types of requirements?

Even if the lending is on corona-pause, I'd love for any recommendations for lenders you've used and like! I'll just keep an eye out for when non-QM lending opens back up (not in a rush).

Thanks!

[Jared Rine]

@Nicole (Dunlap) Pendergrass...that leverage is not possible at these times nor at the expected rates mentioned, and I have a feeling, just from my experience being in the lending space, (esp non-QM and private money space), that you're not going to see that leverage for a good long time. As you've been reading, lenders are INCHING back into the space, but at more restrained guidelines and my opinion is it will stay that way for a LONG while. You're not going to see 80% for a long time, even for purchase money on DSCR/cash flow type loans. It's just not going to happen b/c of the liquidity mess in the 2ndary markets. And if it does, it's going to probably have to be such A paper deal that you might as well go conforming. The lenders who are coming back (and some of them won't ever be back), are starting light, and even on purchase money, you're at max 70% LTVs, with rates in starting at best in the high 6's for best execution on these loans. Just my $0.02.