Multifamily Commercial Loan Assumption

[Cody Ronk]

Hello All,

I am currently planning a move to Chattanooga, TN, from South Korea. I am doing some "window shopping" on apartment complexes there. Below is a link to a listing for a 42 unit apartment complex with an option to assume the mortgage. It's currently listed for $3.1M and has a $1.68M remaining balance. If I were to purchase this complex for the asking price and assumed the $1.68M balance, would I have to pull out another loan($645,000) to meet a 75% LTV required by lenders? Or is the loan assumed by me without a down payment? I hope I expressed this clearly. I am simply educating myself on real estate as much as I can and couldn't quite find the right answer to my "what if". Thank you for your help.

https://commercial.gcar.net/jsp/search/results.jsp...