85% LTV lender in Chattanooga, TN on multifamily (2-3 fourplexes)

[Trever Nicoll]

Hi all,

I am looking to purchase 8-12 units in the Chattanooga area comprised of 2-3 fourplexes. I have worked with a lender in another state who will do 85% LTV with no PMI on non-owner occupied MF 2-4 units and am looking for the same type of lender in Tennessee.

Or,

Would a commercial / blanket loan be a good option here as well? I'm not as experienced with this type of loan.

Does anyone have recommendations or connections/references for a good lender that will go to 85% LTV? Any input would be much appreciated.

[Charles Jabaley]

@Trever Nicoll Most duplexes they will need at least 20% down....

I think commercial might be your best option. Pinnacle Bank, First Bank (which I know you mentioned), and Tennessee Valley Federal Credit Union have commerical lines of credit and business lines of credit you could buy with. Also cash secured line of credit can be a good option.

Atlantic Capital has commercial banking loans options as well. So those will probably be your best shot.

Hope this helps man!