Updated almost 6 years ago on . Most recent reply
Commercial line of credit
I'm currently shopping around for a commercial line of credit with local banks in the Syracuse,NY area. I was informed that any bank considering giving me a LOC against the equity in my properties would want me to refinance all my loans with them because no bank will want to take a second position. Is this typical? I would rather not pay all the closing costs and end up with a higher rate. But if it means getting a line of credit for 500k it might be worth it?