Bank/Lender recommendation for Multi family Investment Property

[Bhai Shah]

Hello BP members,

I am excited about offer getting accepted on our first MF Investment property in South TX market. Now comes the hard part, I am looking for a commercial loan with 20% down and 25-30 year term with 5% or lower interest rates. Got excellent credit and down payment is not an issue.

Looking for recommendation from BP members on Bank/Lenders that can close quickly and provide excellent rates. Thanks in advance.

[Alonzo Ramirez]

Bhai Shah typically interest rates would typically be 6-12%

at minimum get 3-4 quotes at the local bank the multi fam is located in. Mix it up between
-Banks
-Credit Unions
-Mortgage companies

Ask to speak with the Loan Officer, present to then this deal, your down payment, and excellent credit score they should welcome you with open arms...and experience or atleast have a partner/team ready.

Questions to ask Loan Officer:
- What kind of loan programs do y'all have for rental properties
- What are the loan amounts y'all typically lend on
- Current interest rates
- What are the terms
- Any other information I should know

Best of luck