Commerical loan refi Term???

[Keith Jefferson]

BP,

While researching a couple different local banks in MD for a cash out refi loan, I was sent this by a lender and told that this was a pretty standard loan. I was also told the rate percentage was in the 5's. Somewhere in, around, or neat the 5% margin rate. Does this sound right for a commercial loan refi? Just so you know I'm looking to cash out refi on a property I just purchased with all cash for about 42k.

Investment property loans have the following terms

-70% LTV

- 5 year term

- 25 year amortization

- principal and interest monthly payments

- 1% of loan amount commitment fee