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Updated almost 5 years ago on . Most recent reply
Apartment Bridge Loan for Purchase - NEED Recommendations
I have two buildings under contract, that host 25% vacancy, and a traditional commercial bank will not finance them. Looking for a lender that can finance a loan of 80/20 with a rate under 7.5% for a 12 to 18 month period in the State of Illinois.
Recommendations?
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Greg Dickerson
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#2 Land & New Construction Contributor
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Greg Dickerson#2 Land & New Construction Contributor
#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
Originally posted by @Sean Morrisey:
I have two buildings under contract, that host 25% vacancy, and a traditional commercial bank will not finance them. Looking for a lender that can finance a loan of 80/20 with a rate under 7.5% for a 12 to 18 month period in the State of Illinois.
Recommendations?
Make sure to talk to several banks. They are all different and have different lending parameters, rates and terms.