Multifamily mortgage - under $400k - still possible??

Is it still possible to obtain multifamily loans for under $400k? With interest rates under or around 7%? Any answers is greatly appreciated.
Thanks,
Alvin
In Buying Property - Asked by Alvin I. - Feb 14, 2010
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Answer(s)

Paul E. W.
Broker/Agent
Livingston, NJ

Hello Alvin. Yes, multifamily loans under $400K are attainable. Strong occupancy (90%+) and financials showing cash flow will be looked upon favorably. The best sources are the local community and regional lenders.

Feb 17, 2010
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danielle e.
Lender/Mortgage Broker
Sedalia, CO

Yes, loans on Multi-Family properties are still possible under $400k. Our lender allows these properties with loan amount to $250k, 650 fico or above, 5 yr. fix, 7% rate, 20-25yr amortization. Up to 75% Loan to Value.
www.alllendingsource.com
866-810-7184

Feb 25, 2010
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Gregory G.
Broker/Agent
San Francisco, CA

Yes..
Gregory Garver - Commercial Real Estate Broker
Broker License# 01716531
(415)968-6065
gregory.garver@gmail.com

Feb 26, 2010
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