Good Faith Estimate - Kentucky

[Eric Shadowens]

Hello.  I'm considering a purchase of a commercial warehouse in Louisville, KY for $320k.  This would be a first investment purchase and it would be through a partnership with 2 other partners.  I'm trying to run some numbers, but need an idea of total cash we would need as well as a current interest rate.  

Also, we'll need to know what down payment is required for this purchase.  We'll look to finance over 30 years.  

Can someone help me out with a good faith estimate?

Thank you in advance.

[Sajan Jiva]

@Micah Mcarthur

The loan payment is calculated as if after 30 years of payments the loan will be paid in full,  hence 30 year amortization . However, the bank wants the loan due in 20 years. You as the borrower get a lower monthly payment based upon the 30 yr amortization but have to payoff the loan balance at year 20, or refinance at that point.