Bank/Lender recommendations for Commercial loan

[Bhai Shah]

Hello BP members,

I am excited about offer getting accepted on our first MF Investment property in South TX market. Now comes the hard part, I am looking for a commercial loan with 20% down and 25-30 year term with 5% or lower interest rates. Got excellent credit and down payment is not an issue.

Looking for recommendation and suggestion from BP members on Bank/Lenders that can close quickly and provide excellent rates. Thanks in advance.

[Joseph Gozlan]

@Bhai Shah this price point is below the agency minimum amounts so the chances you will find a 80% loan for 25-30 years ar not so high. 

Most loans at that price range are local banks or credit unions with 5 years term, 20 amortization (maybe 25 if you find the right bank) and will be full recourse loans. 

You might be able to find private money lender or partner up with debt partners to get that. 

I am not familiar with other options that will give you what you're asking for. 

Maybe others here know of programs that I'm not familiar with.