What kind of terms can I get on a refinance on a commercial loan?
Generally speaking, you will find most property types financed over a 20 to 25 year period, if requested.Rates are usually fixed for 3, 5, 7, or 10 year periods. These rates are truly dependent on a lot of criteria specific to your loan.You should be in the 70% to 75% LTV area, seldom beyond that, but there...

i want to but a 450,000 dollar 8 plex and put down about 20-25%. what's the best rate of mortgage per month?
Peter,There are some great rates out there right now, many through national direct lenders.You will find them at anywhere from 4.85% to 5.75% (5 year fixed), with 25 year amortizations and standard fees.Joe@ beck5financial.com330-397-5211330-757-2207www.beck5financial.com

Do you finance a commercial building with an out of state owner?
It is sometimes a more difficult search for financing than you would originally think. Many commercial banks in your area will have an internal lending policy that addresses just this situation, and they are often not interested in out of town owners, even if there is a good management team for the...

do you do 2nd mortgages
First mortgages are also all we do, and we are specifically focused oncommercial properties. Sorry.

Refinancing an interest only modification loan into a conventional
Deb,What were the terms of your modification? Within the Modification Agreement, was there any reference to principle payments, or that you accepted responsibility for the principle not paid to be added?How badly did the new appraisal deteriorate, if it did? (If you are talking about a larger...