Hi BP'ers,

Needing to refinance 2 properties, one in PA and one NJ, following a cash purchase. I purchased using a line of credit guaranteed from investments. current bank is offering commercial mortgage at 4.75% on my 4 unit MF in NJ. 25% down, no option to service debt as interest only. Currently service LOC debt as interest only, not under pressure to shift currently, but I will want to free up the capital for the next purchases rolling forward. Be interested to hear people's recommendations. Heard positive noises about partnering with a credit union. My objective is to remove the maximum cash, keep costs as low as possible - points and interest, build up a refinance relationship as I grow the business/portfolio and finally have the option to service the debt interest only if desired.

Looking forward to your comments, recommendations and suggestions

Thanks

R