Looking for A commercial lender

[Nicholas Weckstein]

Okay so after enough research and talking about it I want to start moving on it. I'm looking for a commercial lender. Im looking for 10-20% down 7-10 year balloon payment 20-30 year amortization period. My credit is floating around 750 I have one multifamily property financed otherwise and commercial financing is new to me I have 50k to invest all in on my end. Any suggestions ?

[Conor Freeman]

@Ronald Rohde is correct. Lenders are looking for at least 25%-30% down on a commercial asset. You may get higher on multifamily deal with one of the agencies (Fannie/Freddie) but you'll need to be in the $1mm loan amount range. With 50k down I would keep your purchase price in the ballpark of $200k. Probably looking at a 5,7, or 10 year deal with 25 year amo with a local/regional bank product.