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Updated over 5 years ago on . Most recent reply

Robin Casper's profile image
Robin Casper's profile image
Robin Casper
  • Contractor
  • from Syracuse, NY
  • Member since Feb 16, 2019
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54
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58
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Robin Casper's profile image
Robin Casper's profile image
Robin Casper
  • Contractor
  • from Syracuse, NY
  • Member since Feb 16, 2019
Connect
Robin Casper
  • Contractor
  • Syracuse, NY
58
Votes |
54
Posts
Buying & Selling Real Estate

Commercial line of credit

Robin Casper
  • Contractor
  • Syracuse, NY
Posted

I'm currently shopping around for a commercial line of credit with local banks in the Syracuse,NY area. I was informed that any bank considering giving me a LOC against the equity in my properties would want me to refinance all my loans with them because no bank will want to take a second position. Is this typical? I would rather not pay all the closing costs and end up with a higher rate. But if it means getting a line of credit for 500k it might be worth it?

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