Delayed Financing on a triplex in Ohio

[James Zhang]

All,

I was wondering if anyone could recommend a good mortgage lender who is willing to lend more than 65% of the appraised or purchase price for a triplex in Ohio.  

This would be a delayed financing.  I am purchasing the property using cash and would like to put debt on there as soon as I can.  The one lender I talked to could only lend up to 65% of the appraised value for a triplex. My ideal option would be 75% of the purchase price. To be honest, 65% of the appraised and 75% of purchase is similar, but the appraised value I am using is more or less a guesstimate at this point.

James