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Updated almost 5 years ago on . Most recent reply
Commercial Lender MA
Hi BP,
A partner and I have locked in a 10 unit property. We have tried several banks so far and are unable to find an underwriter willing to give a 30 year commercial loan at this time due to COVID and the PPP loans taking up most of the commercial lending. Does anyone know any underwriters for banks that may be willing to lend? We are looking for 25% 30 year fixed loan. Thank you!
Ryan
Most Popular Reply
COVID-19 aside, you won't find many 30-year commercial loans to begin with, @Ryan Corcoran. Typically, they are 20- or 25-year. If you really need to do a 30-year, try the local Credit Unions. You may have better luck.