Small Balance Commercial Loans Cashout

[Matt D.]

Hello

I am wondering who out there might know of any lenders that do small balance multi family cash out loans. It is a 10 unit building that is worth about 1 mil and i am hoping to do between 60 and 75 % LTV which would include about $200k cash out. It is is in the Las Vegas area. I realize the rate might jump a little bit but even so, since overall rates are so low this still is an avenue I would like to pursue. Is there this type of capital out there for this type of thing?

In a perfect world, I would love to have financing sail through quickly. Payment size is more important than points. I mean I would rather pay points and have a lower payment than the opposite. Would I be dealing with private money, a small bank or? 725 Fico.

[Eric Johnson]

@Jared Rine makes a good point and the other suggestions missed this detail. They read 1mm in value. Loan amount for Fannie small balance starts at 750,000 and only certain approved vendors offer this product. Ideally for the best fannie/freddie the loan amount will be $1mm+. 

 Not all of them offer the same range of agency products. This is a good deal for a small balance. More than happy to hop on a call and discuss your scenario.