Updated about 7 years ago on . Most recent reply
How to Refinance in an LLC?
I am coming up against traditional bank lenders that do not want to refinance my investment property because it’s titled in a Trust. Is this the same for LLC’s? Or as the majority member and the willing party to guarantee the refinance do some banks work with you on this?
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@Ian O'Leary Commercial/portfolio loans have less favorable rates and terms than conventional loans. Typically they offer a 5, 7 or 10 year fixed rate and then it adjusts after that rather than a 30 year fixed. Also they are usually amortized over 20-25 years rather than 30 years. Lastly the interest rate will be at least 1% higher than Fannie/Freddie loans.