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Updated about 13 years ago on . Most recent reply

Jon Klaus's profile image
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Jon Klaus
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Jon Klaus
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Jon Klaus
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Private Lending & Conventional Mortgage Advice

Mortgage on a triple net property

Jon Klaus
  • Developer
  • Garland, TX
Posted

What down payment are banks looking for on a NNN prime location property with a long-term national tenant?

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Steven Hamilton II
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Steven Hamilton II
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  • Grayslake, IL
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Steven Hamilton II
  • Accountant, Enrolled Agent
  • Grayslake, IL
Replied

Jon,

I'm fairly sure he meant as in: "If it is an existing property" you may be able to assume the loan if you qualify as there often can be a prepayment penalty.

I have seen some lenders who will go up to 95% nonrecourse on a property with a tenant that has a great credit rating and 23+ years left on the lease.

-Steven the Tax Guy

  • Steven Hamilton II
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