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Updated 3 months ago, 09/28/2024

User Stats

201
Posts
36
Votes
Ellie Narie
  • Investor
  • Ashland, OR
36
Votes |
201
Posts

Help! Do any lenders offer 100% financing for a 6-plex that I'm buying at 65% value?

Ellie Narie
  • Investor
  • Ashland, OR
Posted

I need help asap. Not sure which board to post this to. I'm under contract to buy a 6-plex at around 60%-65% of its actual market value. However, it was contingent on my other property selling, because I need that money for the 25% down payment. Now the buyer on my property is extending for another 3 months, and might extend even more. I don't think the seller of the 6 plex will wait an indefinite amount of time for me. 

Is there a lender that offers a 100% financing for such a deal? Bridge loan, hard money, anything. I know some lenders that offer 100% financing for 1-4 unit buildings, but not for anything that's over 4 units. Well, this is 6 units. The price is less than 1 mil, but over 500k. 

Help! I really don't want to miss out on this deal and don't know what to do! Property is in the state of Oregon. 

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