So diificult to find multifamily loan < $500K

[Yannes Chiang]

Hi everyone, Need help! I find it extremely difficult to find a bank/credit union providing <$500K multifamily loan in San Anatonio TX. Most of them rejected me by saying they only do commercial multifamily loan no less than $1m. The ones saying they can do will only do 6% or higher interest rate, with 1 point fee. Can you please share with me the loan officer who will do this kind of loan? I’d love to talk with them! Thank you so much !!!

[Lee Ripma]

@Yannes Chiang I get commercial loans from local banks in the out of state market where I invest. Start calling around. I get 5.5-6%, 20 year am, 5 year ballon. Some have longer fixed periods and longer ams but they have rates approaching 7.