What is the current rate for a commercial loan under 500,000 in Indiana - approximately?

In Buying Property - Asked by Ann N. - Jun 2, 2010
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Answer(s)

Tia B.
Property/Asset Manager
Columbus, GA

You would really need to contact a bank for this information to be accurate. Each bank will have different rates. Any bank worth its salt will have someone who is more than willing to help you through the entire process. Remember that commercial mortgage loans are often for 10 years or less and the remaining principal is due at the end of the loan term as a balloon payment.

Jun 8, 2010
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Michael M.
Broker/Agent
Granite Bay, CA

The more important question is at what payment does the property cash flow for a DSCR of 1.25 or more and make sure you include all expenses including reserves for deferred repairs vacancy and management fees. The type of property the access to good financial history the sellers tax returns and many more factors determine the rate you can expect. Now days lenders are cherry picking the loans they want to fund, so loan packaging and presentation is as important as credit scores.
mike marsden mkmarsden@aol.com

Jun 10, 2010
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Jeff R.
Lender/Mortgage Broker
Birmingham, MI

We are currently offering owner occ financing at 5.6% on a 5 year fixed 23 year amortization, this is at 90% financing. On investment 6.25% on a 5 year fixed 20 year amort. 35% down

Dec 4, 2010
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