Looking for recommendations for a commercial/multifamily lender
I own a 12-unit apartment property in Michigan. The current loan is at 8% with a 5-year term and a balloon payment due at maturity.
I am looking for a lender who can refinance or restructure the loan with a longer amortization schedule, ideally 15, 20, 25, or 30 years if available, to lower the monthly payment and improve cash flow.
I can share rent roll, P&L, payoff information, and loan details privately with the right lender.
Does anyone know a good commercial multifamily lender, portfolio lender, DSCR lender, local bank, credit union, or broker who works with small multifamily properties?
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