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Updated about 5 years ago,

Corey Meyer's profile image
Corey Meyer's profile image
Corey Meyer
  • Investor
  • from Big Sky, Montana
  • Member since May 16, 2019
  • Posts 66
  • Votes 28
  • Experience 8 Yrs
  • Investments 5
Connect

User Stats

66
Posts
28
Votes
Corey Meyer's profile image
Corey Meyer's profile image
Corey Meyer
  • Investor
  • from Big Sky, Montana
  • Member since May 16, 2019
  • Posts 66
  • Votes 28
  • Experience 8 Yrs
  • Investments 5
Connect
Corey Meyer
  • Investor
  • Big Sky, MT
28
Votes |
66
Posts
Mortgage Brokers & Lenders

Analysis help for commercial loan to acquire STR

Corey Meyer
  • Investor
  • Big Sky, MT
Posted

For a property with a purchase price of $189,000.

Amortization: 25 years with a 7 year balloon. (What does this mean in laymen’s term)

Down payment (25%): $47,250

Loan amount (75%): $141,750

Rate: 5.03% on a 5-year ARM. Rate floats until time of formal loan approval

Pros / cons? Should I keep shopping?

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