I am looking for Commercial Financing for a first time investment

[Ethen Royal]

Hello all, I am in the process of purchasing my first multifamily unit which consists of 8 2 bedroom apartments, in which are already rented out. The property is listed for 640,000 which is a bit overpriced so I offered 550,000. I have 30 percent of the purchase price but was looking to see if there are any lenders who would do 20 percent down like a typical single family investment property. If anyone knows a good place for first time commercial investors or who has good rates could you please point me in the right direction. Thanks

[Brock Freeman]

We know a lender who will consider 80% LTV with no DSCR. But the rate will be hard money like. Just use it as bridge till you are able to do a rate and term refi in less than a year.