Fixed Rate Loan
With the current economy you have one best option and that is a fixed rate loan. We are at or near the lowest interest rates even for hard money loans. The fixed rate loan is a commercial loan on which the interest rate is set at closing and will be fixed for the entire term of the loan. Get the longest term you can qualify for and request a no penalty pre payment clause. We feel the interest rates will only climb and as it becomes more difficult to qualify and locate loans you do not want to lock yourself into a 1 or 3 year loan unless you know for sure that it will be paid.Plan for your business future when applying for a loan.
Comments (3)
Sorry, could not tell from the aticle itself, or from the "tagline" of the blog.
Jim Wineinger, over 15 years ago
Jim, My blog is about commercial loans for business. I stated that fixed rate loans are the best option for most business owners at this time. Ken
Ken, over 15 years ago
Are you trying to say there are no fixed rate home loans anymore?
Jim Wineinger, over 15 years ago