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Updated over 8 years ago on .

User Stats

88
Posts
39
Votes
Kyle Lewis
  • Real Estate Agent
  • Los Gatos, CA
39
Votes |
88
Posts

Is this a good commercial loan + line of credit?

Kyle Lewis
  • Real Estate Agent
  • Los Gatos, CA
Posted

I'm purchasing a 5+ unit building for less than 300k and plan to spend about $80,000 in rehab costs. Is this a good loan for me or could I find better?

10 year loan amortized of 25 years @ 5.13%. Line of credit for the $80,000 at prime + 2%

Thank you!