soupboy10

I need 2 are you willing to split up?

Thanks

I need two tickets for the LSU vs Vanderbilt game.

I am a commercial banker. I would expect rates for that kinda loan in the 7.25 or higher range. The prime rate is 7.50% today.

Long term rates are higher now.

I would refinance the loans and redo your amortization back to 20 years. It should keep your payment close enough.

You will most likely can finance the refi fees into the loan as well.

Good morning. I am a commercial lender and we absolutely love owner occupied real estate.

It can be purchased in an llc and rented back to business at a reasonable rate. Usually most owners pay enough for payment.

The business would corporate guarantee the loan.

You can get up to 85% financing conventionally with most banks but if you need more leverage you can do SBA programs that can 90% plus percent.

I am commercial banker who finances all property types.

20% down is the minimum on this type of deal

Usually 5 year term and 20 year amort, but a property that size you can do Fannie Mae small balance program that can do 30 year amort.

Things to check for insurance and taxes. If the insurance is not current it is probably going to be double right now. Just a terrible insurance market.

I like multi family and tends to be great asset especially with rates high for single family.

I am a commercial lender who does residential construction for builders and developers.

Depending on the financial strength of the borrower we will do 90% loan to cost or 80% loan to value whichever is less.

Typical pricing is Wall Street journal plus 1.00% and 1% origination fee.

Total cost includes closing costs and bank fees. We can finance those into the loan at closing to help with upfront costs.

Interest is due on amount drawn and will obviously increase as more is drawn.

There are 5 draws typically. The slab draw needs a slab survey, permit and insurance we give 20% at that time. Then inspector is sent at the next phases.

I have doubts Chase Bank will even touch it. They are not doing much investment property. If you were in Louisiana I would do it no problem.

I would go to a community bank in Houston and see if they can help you out.

Glad you were able to get renewed at another bank. Let me know if you are looking at anything else!!

I am no expert on health insurance but I have clients who go through industry associations that can help bundle the policies to get rates down. Just an idea!!

As a commercial banker who financed condos at the beach before I would put in LLC. There are private lenders that do 30 year financing within LLC their rates tend to be slightly higher and charge more fees.

If you do LLC but do not go with private lender you will need to go to a local bank to finance and your terms are more like 5 year term and 20 year amortization. Rates could be anywhere from 7.50% to 9.00%.

The best option is do a 2nd home financing which will be best rates and then transfer. The mortgage will still show on your personal credit bureau. It will affect your DTI for future purchases you finance.