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Updated about 4 years ago on . Most recent reply

James Fraundorf's profile image
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James Fraundorf
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  • from Seattle, WA
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James Fraundorf's profile image
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James Fraundorf
  • Investor
  • from Seattle, WA
  • Member since Jul 8, 2019
James Fraundorf
  • Investor
  • Seattle, WA
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Short-Term & Vacation Rental Discussions

10% DP Commercial Loan

James Fraundorf
  • Investor
  • Seattle, WA
Posted

Is there such a thing as a 10% DP using a commercial lender?  Looking to finance a 4 unit condo in Minnesota for 1.2mil.  Thanks!!

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John Underwood
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied
Originally posted by @James Fraundorf:

Is there such a thing as a 10% DP using a commercial lender?  Looking to finance a 4 unit condo in Minnesota for 1.2mil.  Thanks!!

 I've only heard of as low as 10% DP on second homes, which is residential. Commercial will be at least 20%.

Ask the owner if they will carry back a 2nd position mortgage for some or all of downpayment.

  • John Underwood
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