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Updated almost 4 years ago,
Net Worth requirement on commercial/multifamily loan
Hi BP, I've got a duplex (and a condo) currently, and am looking to make the jump into 5+ units, but it seems lenders want 100% net worth on these loans. Anyone know of a lender who doesn't have that req? I am looking at places about $2mil, and have 20ish % cash down payment, and have very good documented W2 income and credit, but don't have the $1.5mil+ net worth they seem to want. Any way to make the leap, or do I just need to keep saving?