Only 40 days to Secure Financing - HELP!

[Christopher C. Welber]

I need some LTV lending and bank referrals and guidance.

I'm in a crunch... I just got out of attorney review on a property in Piscataway, NJ. I thought I would be able to finance a 418K property with 20% down that's likely worth 450K on a W2 traditional mortgage but this might not work. Taxes are about $600 a month, plus $100 for insurance. If I can keep total expenses (Loan service, taxes and insurance) below about $2,400 a month the property will cash flow about $500 a month.

So, I'm wondering if anyone has sources for lenders/banks who will make a LTV based Real Estate loans on a property in NJ. I'm not looking for hard money lenders but community banks or similar (i.e. credit unions, local / community banking institutions) who will make this type of a loan on a property in NJ.

Thanks BP-ers!