Updated over 3 years ago on . Most recent reply
HELP WITH COMMERCIAL LOAN NUMBERS PLEASE
Hi I am new to commercial loans and I was wondering if i could get
some help telling me if these numbers look ok. A little background, we
went the commercial route because we are running into DTI issues.
THE NUMBERS:
LOAN 1
Amount $100,000
20 year loan
Rate 4.89
Monthly Payment- $654 + Taxes and Insurance
Four 5 year arms that will be reassessed at 3.5 above FHLB
2% Prepayment penalty if we ever REFI
Loan 2
Amount 61,000
20 year loan
Rate 4.89
Monthly Payment $402 +Taxes and Insurance
Four 5 year arms that will be reassessed at 3.5 above FHLB
2% prepayment penalty if we ever REFI