Looking for cash out refi on 7 unit multifamily 50% LTV
LTV is 50%. I was approved for a 30 year term at 4.5% in March but Covid nixed the deal. I have a broker offering 25 amortization/15 term @ 4.7% . Only thing is, his fee is an additional $10k. Ideally, I would prefer prefer a 30 year term. It appears that most banks won't touch anything under $500k. Any leads?
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Stephanie P.
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Stephanie P.
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@Sean McLaughlin
10k fee on a commercial loan at 4.7% with a 25 year amortization too much???
The broker did his/her job finding you great money that will cash flow beautifully, close the deal and pay them. It's the cost of doing business.