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Updated almost 9 years ago,

User Stats

99
Posts
28
Votes
Eric Hathway
  • Investor
  • Southern, NH
28
Votes |
99
Posts

Help me pick between two choice for terms on my upcoming purchase

Eric Hathway
  • Investor
  • Southern, NH
Posted

I am buying an 11 unit apartment building with a commercial mortgage and have the two following financing options:

 (Both are 20% down, amortizing over 20 years). Purchase price $640,000

A)    4.25%, adjusting every 5 years

or

B)    4.625%, fixed for the first 7, then adjusts every 5 years

Please briefly explain your choice and thank you in advance!!

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