% Down and How Long?

As a general rule, if one exists, what % down do banks like to see on a multi-family property?
20% gets a bit steep on $1M+ property.

I’ve got one partner, should we be looking for additional partners to cover the entire finance or just work w/ a bank?

Also, what length of terms should I be looking for? 10 yr, 15, 20, 30? I’ve been told you want a payoff in 10 years, but I’ve heard a lot of stuff also.
Thanks all.

I have yet to see any lender turn down legit loans when the buyer is coming in with 20% down. Even most will fly at 10%. One of the most common terms is a balloon in 10, but that can vary depending on the particulars of the deal, the stats of the building, the borrower, the lender, and the current market.

GooD LucK! :beer