Updated over 10 years ago on . Most recent reply
Cash Out Advice
I'm still reading the other threads about refinance/cashout/eloc.
That said I own a small retail building, we'll say it's worth ~500k right now at 75% occupancy. In case that matters.
Tomorrow I'm going to make a list of all local banks and credit unions and ask to speak to the person in charge of commercial real estate loans and see what they have available in refinance/eloc/cashout products. I figure that's the only way to see whats out there and what I can get.
My general questions are
- %
- Term
- Balloon or no Balloon
- Turnaround time (how long till the cash is in my account)
Advice I'm looking for:
- Any other questions I should add to the above?
- Anything I should say to them or ask about?
- Any other products I should ask about?
- Any other companies/lenders I should be looking for and talking to?
- Any national lenders I should contact that won't show up locally? Link to list maybe?
- Any other advice/warnings?