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How We purchasing Hotel, and We not hawe money for down payment.

Hotel is in Business, and bank owned property. Bank asking 1,850,000 and want all offers. by Matt Matovic from Itasca, Illinois. Feb 20th 2010 Reply


Leo Harvey (LHARVEY)
#6 ranked lender in Pennsylvania - 149 contributions

the commercial business is tough today. The fact that you do not have any money for down payment is a deal killer. Commercial guidelines have become more difficult for borrowers much like the residential field. You will need at least 20% down but some lenders will allow you to use seller financing for 10% of the money. If you do not have and document at least 10% plus the closing costs you will not be able to get a loan.

Feb 21st 2010
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