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Toben B.
  • Investor
  • Tulsa, OK
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152
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What terms and I likely to get on a $2.1 Million loan?

Toben B.
  • Investor
  • Tulsa, OK
Posted Jan 14 2015, 11:11

Hello,

Last time I borrowed on a commercial property I got 5.5% with a 20 yr amo, 20% down, and 5 yr balloon. What can I get now if I borrow 2.1 million?

I am looking at buying 16 duplexes. Can I get a 25 or 30 yr amo? Do I need 20% or more down? What are current rates? Can I get a 10 yr balloon or longer?

Assume the properties will appraise and I am credit worthy. 

Thanks,

Toben

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