Property Manager · Durham, NC · Member since 2014 · 203 posts · 115 votes
I'm on the prowl for a commercial lender in the PGH market. I've called about 20 community banks in the market and the best terms I have received are: 80% LTV for 20yr AM @ 4-4.5% - many banks offered something along these lines. I'm wondering if anyone is familiar with a PGH bank offering 85% LTV and/or 25yr AM? If so, I'd love to connect with them.
80%/20yrs is what I have generally seen when calling around and is what I have gotten personally. Not sure I have made it through 20 banks though. I personally like Main Street bank out of Wheeling, those are their terms. You might try Hancock County Savings in Weirton - they have started putting up a lot of billboards on 22 looking for clients. Somerset Trust is one that has been recommended to me but I have never reached out to them personally.