What terms and I likely to get on a $2.1 Million loan?
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