Help on funding questions, on multi-residential

Hi, I want to get an idea of what is a good private lender rate, and mortgage rate (not insured)

I’ve called around (Canada that is) and it seems the best private lender on a 2 million dollar Multi-Residential (15 units and up) project can do 85% LTV with 8% interest rate. And the bank mortgage rate not insured starts at 6%.

Canada allows U.S. banks to occasionally fund Canadian deals, as long as the negotiation and contract of mortgage is signed outside of Canada, or online. I’ve looked at some U.S. rates, and some bank finance 85% LTV can go as low as 4% not insured. They also allow 3% seller concession and up to 10% vendor take back. That’s pretty amazing. I love America, I should move down there!!

But all dreams aside, I am looking for a creative way to finance real estate, and to pitch creative financing to Canadian lenders, is like trying to shove a whole watermelon down a chicken’s throat. They just won’t swallow. However, if I could find a small bank or some big fat private American lender, whom are looking to spread their seeds up north, I may have more options open up to me.

Please if you have any comment or suggestions, post below, I would appreciate it.