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Updated almost 4 years ago, 12/14/2020
Commercial loan help!
I currently own 5 homes I'm renting. My file is in underwriting for my commercial/portfolio loan. I'm putting them all together to free up my conventional loan availability. Upon, discussing with my lender, I'm learning that the loan is only fixed for first 5 years, then upon successful review, is fixed for another 5 years, and so on. Is this normal??? I was under the impression it was a 20 fixed loan!