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Updated over 3 years ago on . Most recent reply
10% DP Commercial Loan
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
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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.