Need Advice on Commercial Loan on existing retail buildings

[Sudheer Kumar]

Hi All,

I recently purchased a property with assumption loan amount 3 mill. Total property value is 5 mill.

Loan term is ending May 2026. Kindly help me with some suggestions what type of loan better for retail buildings. Tenants are renewing lease next year.

I want to move on to new lender with new mortgage.  Monthly rental is 28K per month.

[Chris Mason]

Quote from @Sudheer Kumar:

Hi All,

I recently purchased a property with assumption loan amount 3 mill. Total property value is 5 mill.

Loan term is ending May 2026. Kindly help me with some suggestions what type of loan better for retail buildings. Tenants are renewing lease next year.

I want to move on to new lender with new mortgage.  Monthly rental is 28K per month.

Hi Sudheer, I wasn't clear from reading your post what the goals are. A loan is better that has a lower rate, a longer amortization, and a shorter prepayment penalty....