Need Recommendation for Refinance Commercial Portfolio Loan

Residential Real Estate Broker · Aurora, IL · Member since 2017 · 96 posts · 45 votes

I have a commercial note with US Bank on a 5 year balloon (expires 2/2021) and I have a nice equity position I would like to access with a current 1.88 DCR.

Recommendations for Illinois commercial lenders I can refinance with?

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Tarik Turner
Lender · Hackensack, NJ · Member since 2016 · 1k+ posts · 372 votes
7y
Are you looking for another 5/1 ARM, 7/1 ARM or 30 Year Fixed?
also how many properties and what is the value of the package?
answering these questions will probably get you some solid leads
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Sean Morrisey
OP
Residential Real Estate Broker · Aurora, IL · Member since 2017 · 96 posts · 45 votes
7y
Open to a 5 or 7 year ARM or 30 year fixed. 9 condos all located within the same homeowner association.
Value is roughly $810,000. Current note is $422,621. 52% LTV.
Thanks Tarik!
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