Commercial Mortgage Loan Advise

[Gaurav K.]

I am buying a 10 unit apartment building for $550k. Each unit rents for $650/month and taxes are $15k/year. I am getting a Mortgage Rate of 4.25% and it’s 5 year fixed, 10 year balloon, 25 year amortization - 30% cash down.

Based on your experience, do you think it is a good deal and good mortgage rate? Are balloon payments normal in these transactions? Are there better mortgage options for buying apartment buildings? If yes, can suggest some better alternatives. My credit score is 790+.

Any advise will be appreciated.

Thanks!