Can I refinance a commercial loan for a lower interest rate? by Nanci Merecki from , Michigan. Mar 7th 2012
Yes you can Nanci, as long as there is equity in the property, decent credit, and the property is cash flowing.
Probably. You can find many commercial lenders in the Scotsman Guide. Check them out at www.scotsmanguide.com ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com
Yes.. Scotsmanguide.com is a great resource.. WilliamAcres.com
Commercial mortgage loans, just like any other loan can always potentially be refinance. Contact a local licensed lender, give them a full application, and let them review your options.
Hi Nanci, Yes, virtually any loan can be refinanced including commercial loans. Keep in mind that the guidelines, rates and loan structures for commercial loans are very different than residential options. You're unlikely to find a 30 year fixed rate at 4 or 4.25% for a commercial loan and baloon payments are not uncommon.
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