If you are looking for a better rate and a lower payment, or if your loan is near the end of its term and you need to look for payoff options, now is a great time for a commercial mortgage refinance. Rates are still at historic lows, and depending on which commercial mortgage lender you select, terms are very favorable for commercial property owners.
Refinancing is available based on your business financials and your equity. Loan Rates vary depending on your credit history and the terms you select. If your business has suffered from a drop in cash flow or delinquency reports on your credit score, as long as you are current on your mortgage payments, a refinance is most likely still an option for you. Paying your loan is the “cost of doing business” as a property owner; so take advantage of the rates being low and the value of your building being high now and improve your cash flow right away with a Refi from CYE today.
We take the guesswork out of choosing from the various commercial lenders and jumping through the hoops and the red tape to qualify for a refi. Our team will alert you right away if there are any issues that would present a problem before you go through the hassle and the expense of applying and being denied for some foreseeable reason. There is nothing worse than wasting time and being told weeks later that your loan is denied when someone could have told you and should have know from the start what the pitfalls were. Our team is here to help you navigate the waters of commercial lending. We are here to help you. So call us today and give us the opportunity to answer your questions and get the refi process started.
Commercial Refi Terms and Rates
Commercial mortgage terms vary depending on your needs. If you are looking for a short term loan you may want an equity line of credit that you can pay back quickly without any prepay penalty. Loans with longer terms generally have lower monthly payments, but you should always consider a prepay penalty if you think you might want to sell or refi in the near future. An ARM loan [Adjustable Rate Mortgage] gives you a lower rate now, while the rates are low, but the rate may increase or decrease in the future depending on the rise or fall of the prime lending rate. An Adjustable rate loan makes sense if you are trying to lower your payment for the short term to increase cash flow right away. ARM rates are generally lower than fixed rate loans, but you should confirm rates and discuss what makes the most sense for you based on your needs.
Right now, loan rates are at a historic low. Short term loans such as 3 year, 5 year, 7 year loans make sense if you are looking for a cash-out option. Loans with longer terms make sense for stability and forecasting purposes. If you want to refinance your commercial mortgage our team is here to offer you options that make sense for your business. We will take the time to understand your goals and give you solutions that maximize your value and lower your rates. Cash flow is the key to making decisions about refinancing, we are here to help. Call us today to talk to our team and let us help you improve your cash flow right away.
Contact Your Commercial Mortgage Broker
At CYE, we know that a good commercial mortgage broker is the difference between saving hundreds of thousands of dollars on a loan with a low rate or spending hundreds of thousands of dollars more on a loan with high rate. We will help you to find the loan with the best rate and term and a very low closing cost. We will make sure that you are prequalified before any commercial appraisal is ordered, and we will make sure that any out of pocket expenses are disclosed before you make any decisions. Before you fefinance a commercial mortgage, we make sure that you are fully informed of the benefits and risks. Our duty as your mortgage broker is to make sure that you find the best rates and products available in the market. Our promise to you is that we will take the time to get to know you and we will make sure that your goals are met.