Commercial lenders for 5 unit
My partner and I are shopping around for commercial loans for a 5-family we have under contract. Have you worked with a lender/bank/credit union that you recommend? Again, this is for a commercial--not residential--loan. We are looking to finance 75% if possible (though a lot of banks will only finance 70%). Let me know if anything comes to mind.
Most Popular Reply
Hello @Antoine Martel @TD Wolf,
The most popular Fannie Mae and Freddie Mac multifamily products are 80% LTV, amortizing or partial-term interest-only for 7-10 years.
-Going 75% LTV will get you an amortized schedule (30 years) or partial-term interest only for 5-6 years.
-Going 65-70% LTV will get you a full-term interest only product for 7-10 years.