Posted by wes on December 22, 2003 at 13:45:00:
I am also interested in knowing what current rates are for interest only, mixed use - commercial loans.
Lookin for commecial finance options - Posted by Don
Posted by Don on December 22, 2003 at 12:45:29:
Looking for possible financing options on a purchase price of $700000. Property is being sold at about 10 cap.
14 Residential units and 5 Commercial units.
What are interest only loans going for right now?
5.75% to 8.75% - Posted by Les
Posted by Les on December 23, 2003 at 10:00:29:
5.75% to 8.75%, 30/30, fully amortized.
LTVs to 80%, CLTVs to 95%
Assuming good credit and collateral.
Unlike residential loans, interest-only commercial loans are typically bridge or hard money loans for 1 to 3 years, and at higher rates.