Best of all - it is very inexpensive and available at a local shop or online called Wisconsin Legal Blanks.

Just my guess...Imagine if you owned a sandwich shop, and you are deciding to sell it or not? 

There are a few ways to go about tackling this situation, and I'll do my best to guide you as I would if we were sitting and having coffee and discussing this. 

The thing with Jumbo products is that each lender can make up their own rules - which result in a variety of qualifications that vary from lender to lender.For your specific example under today's conditions (8/8/2022), a $3M Purchase Price at 20% down will get you the following: - With a 740 Credit Score: 6% interest with about $200 of lender credit ($6000 in lender credit if you have an 800)- You will need 18 months of reserves (PITIA of the new property x 18)- Likely 6 months of reserves for the departing residenceLike others have mentioned, you should shop around for Jumbo products since some lenders have opportunistic terms that are dependent upon their investors at the time.

Purchase price: $500,000 Purchased a ski shop in Angel Fire, NM.

Investment Info:Retail commercial investment in Angel Fire, NM Purchase price: $500,000Purchased a ski shop in Angel Fire, NM.

Feel free to reach out and we can chat/grab coffee this week. 

Talked to one lender and they said I will need at least 20k to start shopping properties.

It is better if you contact a Mortgage Broker, especially if you are looking to shop around.

They will shop with multiple, reputable companies and present you with the best rate.