STR Lenders with 85% LTV (15% down)
Hey BP Community!
Does anyone know of any lenders that will do a commercial loan to a LLC for only 15% down? We had 20% all lined up, but one of our partners dropped out. Thus, we're looking for a way to make up that difference. Any advice or suggestions would be most helpful. Thanks!
Most Popular Reply
@Ross Markey We have a hard money lending directory, where many lenders offer DSCR based loans that may be able to help. There are some lenders that come to mind but it depends on where the property is located and how other factors may affect the risk perceived by the lender. Is the property located in NY?
HML Directory
Stacksource may also be able to help
If you are looking to put 15% down that would be a Loan To Cost (LTC) of 85%
Many lenders will do 80% Loan To Value (LTV)
So if the property is worth more than the price that you are paying, you could still get a loan at 80% LTV but 85% LTC
Before passing on the deal, you could at least make an offer at a price that would make the deal work for you and the lender.