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Updated about 5 hours ago on . Most recent reply

User Stats

26
Posts
11
Votes
Kate Purse
  • New to Real Estate
  • Valencia, CA
11
Votes |
26
Posts

Refinance Commercial Loan in Austin area

Kate Purse
  • New to Real Estate
  • Valencia, CA
Posted

In need of advice on how to proceed with refinancing my commerical property in Bastrop. I have a 3 year arm and would like to shop out the loan and leave the current institution. I have a 15 year fixed rate of 8% but it will likely go up. Questions: Should I shop for another 15 year fixed rate commercial loan (one bank gave me favorable terms but closing costs were 10k!) or should I look into DSCR loans, OR is there a way to refinance to a 30 year loan???

Advice?  Thanks!

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