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Updated 5 months ago on . Most recent reply
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Help! Do any lenders offer 100% financing for a 6-plex that I'm buying at 65% value?
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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- Lake Oswego OR Summerlin, NV
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be very careful of lenders from out of state or those that are not familiar with Oregon.
SEnd me a PM and i will connect you with Oregon lenders that can help you.
@Chris Seveney is correct though in this scenario your going to need cross collateral.
Not saying anyone that has replied on this thread is a fake lender but SM is full of those folks I will connect you with the actual lenders I do not participate in fee's just trying to assist..
- Jay Hinrichs
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