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Updated about 7 years ago on . Most recent reply

Account Closed
  • Registered Nurse (ICU)
  • San Jose, CA
332
Votes |
496
Posts

Commercial Lender Terms. What to expect?

Account Closed
  • Registered Nurse (ICU)
  • San Jose, CA
Posted
I am looking to change my strategy from SFH and small Multiunits to more commercial properties of 4+ units. I have been in contact with a commercial lender and he gave me the following terms as a rough estimate on what I could expect for the loan. 70-75% LTV 5/1 ARM Rate between 4.75% - 5.75% 20-25-year amortization Is this generally the norm for these kinds of loans? Any insight on this would be greatly appreciated. Thanks everyone.

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9
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2
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Justin Greenfield
  • Investor
  • Oklahoma City, OK
2
Votes |
9
Posts
Justin Greenfield
  • Investor
  • Oklahoma City, OK
Replied

I was able to get 80% LTV, 10 year fixed, 20 year am last year. I pushed every bank to maximize the fixed term so I can lock in my numbers and get the building paid off.

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