Board Topic: 100% Financing Commerical Property
Click here to view this topic in its original format
LoanUniverse Community > General Chat >

100% Financing Commerical Property

Posted by: Helen Sep 16 2004, 11:38 PM

I am a Mortgage Broker who has not done commerical loans. I have a client who is interested in purcahsing an existing 48 unit apartment complex, he asked if I had a lender who will do 100% financing. I am not sure about 1. How to get started and 2. Does anyone know of a lender that I can sign up with that doesnot require FHA Approval?

Posted by: loanuniverse Sep 17 2004, 08:57 AM
Sorry Helen, I do not. Maybe one of the non-bank lenders here can introduce himself/herself.

Posted by: Newcomer Sep 18 2004, 02:17 PM
Helen,

I havent heard of 100% financing for commercial loans. If you find a lender that even skirts 90% LTV for Appartments please contact me.


- Newcomer

Posted by: Commercial Lender Sep 18 2004, 03:16 PM
Yes! 80% max LTV is the norm for a full doc. On a stated for example we are able to provide a max of 90% CLTV (That is 75% LTV + 15% Seller 2nd = 90% CLTV). The most important components of a deal where the buyer has little money down are good buyer FICOs and a motivated and helpful seller.
email

Comments are closed.