Looking for a 30 year fixed commercial loan (Refinance)

[Jesus Jimenez]

I am not sure if this type of loan is being offered anymore, but I currently have a 30 yr fixed loan on a multifamily mixed use property. 1/3 of the property is commercial, 2/3 are residential units.  In 2005, I was able to refinance the property and obtain a 30 yr fixed loan on this property.

I have been looking into refinancing this property to try to lower the interest rate, but I am being told that I can get a commercial loan for 5yrs or a maximum of 10 yrs. 30 yrs is no longer offered (is what I am being told).

Does this sound correct? Any ideas what is the longest term offered for commercial mortgages in MA.

Thank you.