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Updated about 1 year ago, 09/26/2023
Need help figuring out commercial financing options for multi-unit property.
I'm considering a multi unit property over 4 doors, which pushes it into "commercial". The primary options for financing appear to be limited to DSCR loans. Not only are the interest rates ridiculous, the lenders so far want the loan amount to be above what I even want to pay for the property (meaning they aren't interested in financing a smaller amount, I guess). Are there obvious options I'm missing? I qualified for a conventional loan at well above the asking price.