Updated almost 13 years ago on . Most recent reply
Financing for a commercial unit
Hello All,
I am the beginning stages of purchasing my first commercial/residential unit. The building has 4 commercial units and 2 apartments above the commercial units.
I have spoken to a few local banks about financing and have found these two options to be common.
20% down
4.99% for 5yrs. Then after 5 years variable. 20 year term
Or
5.99% fixed for 10yrs and resets after that.
This is my first time doing this and wanted to get your opinion! Thank you in advance.
John F.