This loan will never happen.. typically, commercial lenders are going to require 30% or more down, and require you have sufficient reserves on top of the down payment.. The only time i have ever seen a lender do this type of loan is when a borrower has a long term relationship with a given lender and has done multiple loans with the same lender and is going back for another.. but aside from this rarely seen exception, you will need much more down payment if your considering getting this property. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
Ask our community a question.