If you own a smaller sized apartment building, 50 units or less, and you wanted to get additional capital out from the property do you have to refinance the property? Are there lines of credit? Second lien loans? Other options? What the typical costs? Any example lenders?
With rates going up, people will want to keep their original loans but may want to get additional capital out of the property without refinancing. I am trying to understand the possibilities on the market.
Investor · Kansas City, MO · Member since 2020 · 400 posts · 278 votes
4y
Yes that should be an option that you can exercise. I'd start by asking your commercial lender on the property to gauge options for that specific property.