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Updated over 6 years ago on . Most recent reply

Jeremy A.'s profile image
Jeremy A.'s profile image
Jeremy A.
  • Rental Property Investor
  • from Maine
  • Member since Mar 25, 2018
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Jeremy A.'s profile image
Jeremy A.'s profile image
Jeremy A.
  • Rental Property Investor
  • from Maine
  • Member since Mar 25, 2018
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Jeremy A.
  • Rental Property Investor
  • Maine
59
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179
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Creative Real Estate Financing

Maine lender terms bit controlling

Jeremy A.
  • Rental Property Investor
  • Maine
Posted

anyone but me think lender bank in maine who hitting me with 1-5 points per year for 5 yrs on commercial loan bit controlling?

they are using my equity in 3 unit for both 20% and repair money and 80% of 200k purchase of 10 unit.

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Will Stewart's profile image
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Will Stewart
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  • from MA
  • Member since Aug 6, 2014
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Will Stewart
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  • from MA
  • Member since Aug 6, 2014
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Will Stewart
  • Investor
  • MA
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Will Stewart
  • Investor
  • MA
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That looks like a prepayment penalty to me, not points. Seem like pretty standard terms all around. 

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