My wife and i live in Virginia. We are going to move to Tn. in less than a year.
We want to start buying property before we get there. Our family already lives
there and can run the day to day till we get there. We are looking at a 6plex for
129k. Who should i talk to about getting a loan for this. I have tried most of the
people i know and they only do upto 4-plexs and or in the same state.

Thank you inadvance for you help and ideas.

William

Anything 5+ units is considered commercial. Because of the small loan amount for commercial, try banks local to where the proeprties are located.

Small bank's bread & butter


You will need:

Rent roll
Property Expenses
Your personal taxes
Your personal financial statement

Expect 75% to 80% loan-to-value

I have a Lender that does the smaller loans like this one on Commercial properties. Depending on your credit scores, and if you can provide full documentation of your income, they will go up to 90% financing. Let me know if I can be of service.

I would gladly locate the best rate and terms for your purchase.

There are programs available up to 100% financing for your loan amount, property type and Loan state. A bank loan will require a down payment and will usually only go up to about 80% at most.

This is classified as a commercial loan. I finance this type of property and it is a fairly simple process.

Call World Savings. They are the best instead of being charged by a broker. Good luck my friend!