Cash Out Refinancing in Iowa

[Drew Leonard]

I'm looking to cash out refinance a 5-unit property in Des Moines, IA at 75% LTV based on the appraised value. I estimate the value will come back around $225-240k, which of course doesn't meet many lenders' minimums. I've reached out to community banks as well, but not getting much traction or the terms I need. Anybody know of a lender that can provide a commercial loan with those terms for such a low amount in Iowa?

Thanks,

Drew