Posted on August 26, 2010.
When We Got Our commercial loan, loan officer o Told Us That "all commercial mortgages are ARM." Although we in We Got The low interest rate boom 4 yrs ago, payments are now o Almost doubled.Any suggestions?
Tabitha Estok says...
If it is a commercial loan then most of the programs are ARM's.Most of them also have a balloon payment.However, there are fixed rate options.The rates are usually so ugly though it isn't worth doing it (at least on the commercial side).Some of the rates on commercial are in the 5's right now.E-mail me with your scenario and I can give you a quote on another 5 year ARM, a 10 year fixed, and a 15 year fixed.Depending on the property type will depend on whether you can get a term any longer than 15 years.
Posted on August 27, 2010
