Refinance Commercial Loan in Austin area
In need of advice on how to proceed with refinancing my commerical property in Bastrop. I have a 3 year arm and would like to shop out the loan and leave the current institution. I have a 15 year fixed rate of 8% but it will likely go up. Questions: Should I shop for another 15 year fixed rate commercial loan (one bank gave me favorable terms but closing costs were 10k!) or should I look into DSCR loans, OR is there a way to refinance to a 30 year loan???
Advice? Thanks!