I have a property in Delaware County, PA I am looking to refinance that is owned by an LLC. Does anyone have commercial mortgage lenders they have used to refinance and have had good experiences with? I would love to hear more as this is my first commercial mortgage and the process is new to me.
BHCU is solid. Let me know if you want an intro to my mortgage contact there.
@Robert Gonzalez I work with multiple commercial lenders that financs in Pa. Connect with me and I will be glad to help.
I would love an intro!
@Robert Gonzalez I have had a really good experience with Philadelphia federal Credit Union. Best rate I have seen by far (and I have called a LOT), no pre-pay penalty, 10 year term (with 5 year rate reset), and 25 year amort. Underwriting is a little strict and you need to meet "membership qualifications" which include living in, working in, or doing work in, the city of Philadelphia. I am doing a few flips in the city so I was able to use the last one, but you may have to get creative here. I never had to prove anything I don't think so it may be a non issue but I can happily put you in touch with my loan officer there.
Vist Bank is a flexible, aggressive local lender, I would definitely reach out to them.
@Gregory Hiban do they work with out of state investors?
Thanks! Will do.
I am a direct lender and not a broker. I do quite a bit of lending in that area.
I have gotten fully fixed LLC Refinance & Purchase Mortgages depending on my debt leverage I have been locked between 5-7%. Closings took between 45-60 days...