Commercial Lender who works weekends?

Question

A deal popped up on the market and we are exploring all the ways to fund it.  3 separate units.

We could go with 3x Freddie/Fannie loans or a commercial loan.  We’re a bit unfamiliar with commercial lending, but from my research, it looks like they could help us out.

We were given a host of commercial lenders numbers but most don’t pick up their phones over the weekend.  Anyone know a commercial lender in Virginia who works weekends?

Andres Piedra · Answer

Hey there. I have a lender here who might be able to assist you. They don't do commercial, but they do have portfolio options, so you don't need to sweat the fannie/freddie requirements. They do those loans as well, but it's an option for investors they created, for those of us who fannie/freddie out.

Yan Katz · Answer

@Mark Pijanowski why not to residential? I think you rates might be a little better that way. Good luck!

Nicholas Covington · Answer

@Mark Pijanowski what was the reason of wanting a blanket? Like I said you are welcome to give me a call.

Mark Pijanowski · Answer

@Nicholas Covington thanks for the info.  I might go the conventional route, especially if you’re thinking most blanket loans won’t cover 3 units.  Not sure if it matters if the properties are duplexes.

I’m really looking to see what my best financing options are.  Thanks again for the insight.

Nicholas Covington · Answer

Commercial lending has multiple facets to it. Using the word "a" I would assume you are talking about a blanket loan, aka one loan to cover all 3 properties? Why do you feel this would be a better route than just 3 conventional loans? Also unless the properties are worth quite a bit of money, most are going to want like 5+ properties to a do "blanket" loan if that's what you're searching for.

Side note, I answer my phone on weekends. Normally not the first ring since I don't answer random calls BUT once a text or voicemail is left I call right back 😉