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Updated over 4 years ago on . Most recent reply

User Stats

26
Posts
12
Votes
Jane Johanson
  • Investor
  • Madison, CT
12
Votes |
26
Posts

Seeking Funding Advice for a 6 plex in Rockland Maine

Jane Johanson
  • Investor
  • Madison, CT
Posted

I have an opportunity to purchase a 6 unit multi fam plus single fam (both on same in-town lot) with long term rental history in the waterfront city of Rockland Maine.   I know the town well.   I currently own a single family in town.   My question:   With only one deal under my belt, how best to get a 15-20 year loan with 10-20% down on a $500k purchase?   Any thoughts much appreciated!!

  • Jane Johanson
  • Most Popular Reply

    User Stats

    236
    Posts
    140
    Votes
    Carl Hebert
    • Rental Property Investor
    • Auburn, ME
    140
    Votes |
    236
    Posts
    Carl Hebert
    • Rental Property Investor
    • Auburn, ME
    Replied

    @Jane Johanson - Hi Jane, like @Ed Emmons said 1st National is a good place to start looking and also Camden National. I have been using Mechanics Savings Bank for my commercial purchases. Last one was a 10yr with a 20yr amort @ 4%.

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