I'm looking for a line of credit with a 25% LVT on a $3m/ 21 unit/ free+clear apartment building. The problem is that I want a 10 to 15 year term. This is non traditional. It is "off the sheet", and I am having a hard time finding a lender to agree to this long term. Am I going to find someone to do this?

So you are looking for a line in the amount of $750,000. I assume that you want a line because you want it available, but don’t want to draw on it until you need to. Any particular reason why you wouldn’t want a term-loan? Maybe the short-term interest rates are too appetizing {they are not going to be low forever you know}.

I find it difficult that a bank-lender will commit to this type of long-term open-ended financing with no amortization in place.

Why don’t you change your approach to a “Demand” line of credit with annual reviews. Some of these “Demand” lines are setup in a way that you as the borrower might not even know when the review happened.

If the valuation is there, and your rental income supports it, you can get a line, you just won’t get that length of time. It sounds more like you want to do something long-term with the money using a vehicle designed for short-term financing.