I am trying to refinance 5 properties with a blanket commercial mortgage. I was offered a loan with a 5 year fixed 4.5% rate and a 10 year balooon payment (25 year ammortization). Is this considered competitive? What is considered competitive in todays market? Consider the fact that these are single family homes - not multiunit.
Are there better options out there for me that I should look into?
Insurance Agent · Des Moines, IA · Member since 2014 · 26 posts · 6 votes
6y
Guy,
4.5% is a great rate on an SFR portfolio, along with the 30 yr am. Is the rate fixed for 5 years or does it adjust after 5 years? Most loans I've closed come with either a fixed rate or a hybrid (fixed then adjust).