Financing in Beverly>Question Details

Jerry978, Other/Just Looking in Beverly, MA

Are there any financing options for a 10 unit apartment building in Massachusetts if I am targeting 10% down on purchase price? Local banks require 25

Asked by Jerry978, Beverly, MA Fri Jun 24, 2011

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25% is about the lowest you will see.
0 votes Thank Flag Link Fri Jun 24, 2011
I doubt your going to do any better than 75% LTV financing for a commercial loan in today's market.

Interest rates will range from the mid 4's to 7's depending on how long of a Term you want for your financing.
0 votes Thank Flag Link Fri Jun 24, 2011
You will be hard pressed to find a commercial loan with just 10% down. Anything above 4 units is considered commercial lending.
0 votes Thank Flag Link Fri Jun 24, 2011
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