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Updated about 7 years ago on . Most recent reply

Quincy P.'s profile image
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Quincy P.
  • from Saint Paul, Minnesota
  • Member since Jun 27, 2016
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Quincy P.'s profile image
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Quincy P.
  • from Saint Paul, Minnesota
  • Member since Jun 27, 2016
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Quincy P.
  • Saint Paul, MN
7
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34
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Multi-Family and Apartment Investing

Financing for a 6 plex in Minneapolis

Quincy P.
  • Saint Paul, MN
Posted
Hi BiggerPockets, I have a friend that is looking for financing on a 6-plex in Minneapolis, MN. Purchase pride is $450K and he can put down 25%. Being that it is considered commercial he is getting turned down left and right for financing. Any input would be greatly appreciated. Thanks, Quincy
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Marcus Johnson's profile image
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Marcus Johnson
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  • from Saint Paul, MN
  • Member since Aug 21, 2015
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Marcus Johnson
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  • from Saint Paul, MN
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Marcus Johnson
  • Investor
  • Saint Paul, MN
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Marcus Johnson
  • Investor
  • Saint Paul, MN
Replied

Try first state bank of Rosemount. I just did a 15 year commercial cash out refinance @ 76% LTV with a 4.25% interest rate. My next commercial loan they will accept 20% DP and a 15 year term.

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