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Updated over 7 years ago on . Most recent reply

User Stats

14
Posts
9
Votes
Greg Schow
  • Investor
  • Farmington, UT
9
Votes |
14
Posts

Good Bank to finance a 20 unit multifamily property

Greg Schow
  • Investor
  • Farmington, UT
Posted

I am new to BP and excited to learn and to help where I can!  

I am looking to finance a Multifamily project in Utah with 20 units with 20% down, good competitive rates and a bank that can close in less than the standard 3 months. The project is a 7 Cap. I've spoken with a few banks and know I can close on the deal, but I want a bank that knows multifamily and is easier to work with than the standard conservative bank or credit union that takes too long (3 months) and aren't super competitive on their rates.  Does anyone have any suggestions or similar experiences you can share?

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