lenders who vest LLC at 20-25% down for non owner occupied 4plex

[Kristi Kandel]

Hey there! 

My business partner and I are purchasing an investment property that is a 4-plex. We would like to put the property in an LLC but are having a hard time getting a lender who would vest the LLC. Ideally we'd like to put 20-25% down with the LLC holding title and the mortgage. Is that possible and any suggestions on which lenders could do that?

[Chris Connery]

@Kristi Kandel

I would seriously recommend dealing with small local banks to handle the commercial loan as opposed to a large bank. 

@Robert Kentos

I'm also in NJ. Let me know if you ever need a bank recommendation. Currently for commercial loans in NJ I'm getting properties deeded to the LLC, personally guaranteed by me. 5-6% rates, 25% down, 25 year loan term with 25 year amortization, rate adjusts every 5 years to the 5 year treasury rate +3%.

There is also a bank up your way called Provident Bank that will loan to LLC's for 1-4 family properties, rates around 5% and 30 years fixed.