Are nearby any mortgage companies inclined to REFINANCE someone next to a great credit mark?
We own a plum commercial building in the middle of the best part of the downtown nouns of a small town. I have top credit---over 800. My sister has roughly 780. We want to refinance. Our interest rate is 8.5%. Are there any reputable companies that will refinance for a much better rate??
Answers:
Maybe, but the commercial real estate market have tanked and you probably don't have enough equity to cover your loan amount.
Yeah, as long as you enjoy enough equity to refinance you certainly can receive 5.0%-5.5%. If you have an FHA/VA loan you can even have cynical 5% equity and still refinance.
Yes, but credit score are not the only factor.
Suggest you start beside the local, independent banks Source(s): real estate investor
call first and afterwards visit mortgage brokers; ask if they do
commercial. Agree to pay no front fees doesn`t matter what; no
app fees, no appraisal fees, credit check fees.
none; all of those should come of the new loan Source(s): RE broker
Related Questions:
What class of mortgage interest rate will I attain near a mid-600s credit gain?
We will be applying for a conventional mortgage. And although our credit score is not perfect does it relieve with getting a better interest rate if we have never be late on our current mortgage and have be here...
Answers:
Maybe, but the commercial real estate market have tanked and you probably don't have enough equity to cover your loan amount.
Yeah, as long as you enjoy enough equity to refinance you certainly can receive 5.0%-5.5%. If you have an FHA/VA loan you can even have cynical 5% equity and still refinance.
Yes, but credit score are not the only factor.
Suggest you start beside the local, independent banks Source(s): real estate investor
call first and afterwards visit mortgage brokers; ask if they do
commercial. Agree to pay no front fees doesn`t matter what; no
app fees, no appraisal fees, credit check fees.
none; all of those should come of the new loan Source(s): RE broker
Related Questions:
What class of mortgage interest rate will I attain near a mid-600s credit gain?
We will be applying for a conventional mortgage. And although our credit score is not perfect does it relieve with getting a better interest rate if we have never be late on our current mortgage and have be here...