I’m curious as to what the interest rate is for commercial loans are right now. I’ll give an example of a property and a few variables to work with but I’m just looking for a ballpark number.
FICO score of buyer: 750
I’m looking at a multi-family 4 unit
4-plexes are residential, not commercial…!
If they consider them a commercial, you need to deal with a better bank…they’ll charge you higher rates, over a shorter amortization period. and higher fees…with no real value added.
Residential, Go to your local bank!
You could do this as a residential loan with a much better LTV. Especially if you will be living in the property.