Just got off a call with a commercial lender at a local bank in Miami. I'm looking for a mortgage to cash out refi a condo in Homestead as part of a brrr strategy. The lender said: - local banks have slowed down their commercial lending on residential properties. They won't issue anything new. - it doesn't matter that I only have 1 property with a mortgage. If you rent it, it's commercial and it goes to the commercial lending unit. - condos are really looked at unfavorably at the moment. No one is lending on them. Now I understand Miami residential is overvalued and banks should be cautious. But the above seems crazy to me. I was asking for a 75 loan to value and was willing to go to 50 loan to value. I though I could still qualify for a mortgage as a residential loan if I had fewer than 10 properties. That doesn't seem to be true anymore. Anyone have a similar experience? Anyone know of a local bank that is still lending? Thanks, Art Giacosa