97% LTV Commercial Purchase
January 3rd, 2008 Posted in Commercial Mortgage
I’m pretty excited about this one…
I had a client that wanted to purchase some light industrial space for his business that he was currently renting. He was approved by his local bank, but they required 30% down, which was more than he was comfortable with. The client asked me to find him a loan with a lower down payment requirement, and after some searching, I was able to get him approved for purchase with just 3% down (and this was not and SBA deal).