Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Classifieds
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 4 months ago on . Most recent reply

User Stats

3
Posts
0
Votes
Chantel Evans
0
Votes |
3
Posts

Looking for commercial lender

Chantel Evans
Posted

I have a mixed use five unit unit building that I need to refinance. I am running to issues finding a lender because the building is worth less than 400,000. Are there any lenders out there that can help me, I would preferably do a cash out refi?

Most Popular Reply

User Stats

1,115
Posts
629
Votes
Nick Belsky
  • Residential and Commercial Broker
629
Votes |
1,115
Posts
Nick Belsky
  • Residential and Commercial Broker
Replied

@Chantel Evans

You'll be better off going to a local credit union or bank. 70-80% on a Mixed-Use with STR and Commercial use is not likely in this market. Mixed-Use is very risky to most lenders right now. You'd be hard pressed to find 75-80% for purchase financing on a property like this. I've worked with a few local CU/Banks who will go down to $100k on such properties with far better terms that you will normally find in the private money resources.

Cheers!

business profile image
Belsky Mortgage, LLC
5.0 stars
14 Reviews

Loading replies...