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Updated over 4 years ago,
What is the longest reasonable for small commercial Multifamily?
I am coming up on a balloon payment for an 8 plex with a value around 1mm. The bank is pushing a 5 year term hard. With interest rates where they are, I would love a longer term. Any ideas on what I should reasonably expect/ask for? I shop banks relatively often but have been happy with this bank otherwise so I don't want to push if I can't find it anywhere else. TIA