Hello
i am wondering if anyone knows of a bank or a credit union that will lend on a single family investment home as a rental property acquisition in Minnesota owned by an LLC personally guaranteed by a 720-730 FICO 8 person with all K1 income (pass through income from owning an LLC).
We will have no problem getting a loan from Klein bank in Minnesota who will keep the loan in house but it is 25% down which is doable but we would really prefer not to tie up that much cash. The Klein bank is a 5 year balloon as well which goes by fast. The nice thing about that loan is only the inquiry will report to personal credit unless the loan goes bad.
Ideally we would like 10% down, 10 year ballon, with a 20 year amortization or longer.
