refinance commercial property
I am in Baltimore, Maryland. I would like to refinance my commercial mixed/use property. I operate a banquet hall and a childcare center. I currently have a mortgage of 14.9%. I need a lower interest rate. By doing so, I can have extra money to build a parking lot and a playground. My personal credit score isn't that good due to a hardship/fire that I experenced in 2010. Can you recommend some reputable companies that can assist me in this? by Linda Brown4 from , Maryland. Aug 23rd 2012
Travis Torcoletti (travis.torcoletti)
#0 ranked lender in South Carolina - 372 contributions
Click on the "Find a Lender" tab and then begin your search for someone in your area that does commercial lending.
Michael Mandis (MarylandMortgages)
#26 ranked lender in Maryland - 14 contributions
I would check with Patapsco Bank, Hopkins Federal, Arundel Federal, and Mid-State Federal Savings.
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Lender411 is primarily for residential mortgages.. The best source for commercial funding is www.scotsmanguide.com They have a feature called "Find a Loan".. Just type in your parameters and search.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
Three issues. 1- value of property compared to loan amount 2- Tax returns / income flow 3- Assets, both liquid and non liquid.Two answers.a- I can coach you at no cost on raising your scores b- If scores can't be improved, you are looking at hard money lending. Your answers to 1,2,and 3 will determine what deal you can get in the marketplace.
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