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| *Loan,banking and credit>>>mortgage loan |
Getting a commercial loan for my shop i plan on selling it in 15 years whats the best type of mortgage? |
Getting a commercial loan for my shop i plan on selling it in 15 years whats the best type of mortgage? A fixed 30 year loan which at a very low interest rate with no ballon payment. This way you own something that costs about the same as if you lease it. Our company does this all the time Charles Higher Ground Financial Services chuck8008@comcast.net You do not mention what type of business your in or how you use the building so there may be some limits on the terms available on a commercial loan. Most are 30/10 loans... amortized for 30 years but balloon payment due in 10 years. You have the option even in commercial for interest only and negative amortization loans if that flavor suits you. If available I would also recommend the 30 year fixed but depending on the building and its use you may find that the shorter term loans will work better for you. Keep in mind that every commercial loan I have looked at has a significant prepayment penalty if terminated early. Kevin 866-562-6838 x 106 kruorock@firstratelending.com Loan Officer, Mortgage Specialist what kind of commercial property? http://www.choicefinance.net/commercial_... |
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