Commercial Mortgage Refinancing

Are you considering refinancing mortgage commercial? There are several factors to consider making commercial mortgage refinancing a viable option.

Here are some questions to ask when considering refinancing mortgage commercial:

Can I get cash?

Can I reduce my interest rate and/or payment?

Are there any balloon payments?

Are there restrictions on the use of funds?

There are commercial refinancing options for borrowers with bad credit?

How much is my out of pocket expenses?

Are there any monthly or annual reporting requirements?

What is my borrowing limit?

What is the loan-to-value (CLTV) limit values

Can I get cash?

If you need funds for the renovation, repair, business expansion, or any other cause, can a cash out conversion would be a good source of immediate funds.

Can I reduce my interest rate and/or payment?

If you are paying high interest rates or a high paying your mortgage, you can refinance for a lower rate or lower payment to reduce your costs.

Are there any balloon payments?

Balloon payments are common in commercial mortgages. Many borrowers refinance to avoid balloon payments. you can consider a refinancing program that requires no balloon payments.

Are there restrictions on the use of funds?

Many lenders have restrictions on the use of funds in a cash out reorganisation. Verify to determine if such restrictions exist on the loans you are trying to get.

Are there options for borrowers with bad credit?

There are many loan options for borrowers with bad credit.

How much is my out of pocket expenses?

Final cost of a typical transaction involves an assessment and possible points. expect to pay around $ 300. in closing costs to close on a commercial mortgage restructuring.

Are there any monthly or annual reporting requirements?

If the borrower fails to act in accordance with the monthly or annual reporting requirements, the loans are considered in default locations. you want to avoid loans have such requirements.

What is my borrowing limit?

Commercial mortgage restructuring s have lower loan limits to commercial purchases. Borders is usually $ 1-$ 1.5 million.

What is the loan-to-value (CLTV) limits?

Loan-to-value ratio in commercial conversion loans are as high as 97%.

No-doc or limited documentation programs?

No-doc or low documentation commercial mortgage loans typically have higher interest rates and lower loan-to-value ratios.

Eliot Hobbs is a small property developer and commercial mortgage referral agent. further information can be found at http://www.dsmallbusinessloans.com