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QUESTION: I went to my normal lender and was told they cannot do loans outside of my state? How do I find a lender?
December 1, 2018
QUESTION: I have a property that is on 63 acres and I am having trouble find a good mortgage program?
December 1, 2018

QUESTION: I am looking for a loan over $2,000,000. I have had a tough time finding anyone to help me with that, and it sounds like I may have to put a whole lot more down.

Answer:

Once you get above $1,000,000 in loan amount you may have to put more down.  Loans over $2,000,000 are highly specialized and the number of investors shrink substantially once you go above $2M and get even smaller when you go to $3M.  Normally a medium/larger bank will have access to, or have a portfolio loan that can meet the needs of borrowers who are at or over a $2,000,000 loan amount.  Underwriting will be more strict any time you get above $1,000,000 so be prepared.

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