Updated almost 5 years ago on . Most recent reply
Loan w/ 30-year amortization for a $75k property?
Hey all, I have a duplex that has > $900/mo NOI, and am looking for a commercial loan with a 30-year amortization. It's in an LLC, so it has to be a commercial loan, but I'm having trouble finding anyone who will loan on a property worth less than $100k. I have a loan on it with a local bank currently, but it's an adjustable rate loan (after 5 years) with a 13-year amortization. The value is only $75k due to where it is (rural Ohio).
Anyone know of a lender who will loan on lower value (but still solid and cash flowing) properties?
Most Popular Reply
@Jason DeVelvis I would reach out to @Chris Wharton he's great! He may be able to help you out! or at least provide some insight.