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| *Loan,banking and credit>>>mortgage loan |
Is the interest on a commercial real estate loan higher than for a house? What if it's a second mortgage? |
Is the interest on a commercial real estate loan higher than for a house? What if it's a second mortgage? Almost always. Lenders know that people fear losing their own home more than a rental, investment, or commercial property, and will be more likely to make their house payments on time than other loans when they are in financial distress, Both situations are separate and unrelated so it is very difficult to tell. The underwriter in each instance would determine how risky the loan is, with riskier loans getting hit with a higher interest rate. The interest rate is almost always higher on commercial property than it is on residential property. It is higher on a 2nd mortgage on commercial property. The investors feel that you will abondon your commercial property before you do the same to the place you are staying therefore they feel the risk is higher and charge accordingly. I hope this has been of some use to you, good luck. "FIGHT ON" |
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