Commercial loans longer than 20yr amortization?

[Marc Rice]

Hello BP! I've been working with some buyers on larger apartments around the $1m purchase price and have found some solid 1% rules in great A-B neighborhoods but the issue I'm running into is that commercial lenders are only willing to provide 20 year amortization loans instead of 25-28yr normal. I have heard of Fannie/FHA apartment loans up to 30-35yr amortizations but am very unfamiliar with that space.

Does anyone have any recommendations on where to find longer amortized commercial loan products? Located here in Columbus, OH.

[Matt J.]

@Marc Rice I’m not in your area but would encourage you to check with your local credit unions.

I have a commercial MF loan with a local CU and they offered a 30 year amortization with no pre-payment. I actually found several that offered this. Rate and fees were competitive.