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30 Year Fixed Commercial Alternative Loans ARE Available….
Yes, we have 30 year fixed commercial loans for multi-family deals above $1 Million…with great rates! WE ALSO HAVE 30 YEAR FIXED for the other main commercial types-retail, office, light industrial, mobile home parks,etc. No special use properties like hotels or gas stations. This is on the Alt-A product that I have talked about before…this product is a great product for deals that just miss conventional but are too good to go bridge. IT IS AVAILABLE UP TO 80% LTV and only has a 5 year pre-payment penalty! This hybrid loan allows long term fixed rates with long 30 year amortizations, it is IDEAL for such loans as the following:
- SBA Fallout
- Refinancing out of high cost bridge debt
- Borrowers who can’t document income on tax returns (NO DOC
- Out of state investors/inexperienced investors
- No seasoning on title
- Large cash out requests
And much more. This product is HOT and available as low as $250,000 and as high as $5 Million. AND WITH 30 YEAR FIXED RATES at UP TO 80% LTV….it can help get a lot more deals to the closing table.