Finding the right commercial loan program is imperative to the profitability of your investment or business. Whether you have plans to refinance an existing loan or to purchase a property with your new financing solution, the loan program will be a significant factor in your overhead. While finding a commercial loan program with a low rate is important, the term, amortization and other factors can also influence affordability. The 15 Year Balloon program from MortgageDepot is an excellent solution for many who are seeking commercial financing.
What the 15 Year Balloon Offers
The 15 Year Balloon program has highly competitive rates for select commercial property types in specific locations. This is not a catch-all program that is ideal for all investors, but it has unique benefits and terms that make it well-suited for those who are looking for a longer amortization with a reasonable term and competitive rate. Some of the key features associated with the 15-Year Balloon program are:
- 15-year balloon with 30-year amortization
- Ideal for multi-family, retail, mixed use and other types of commercial properties
- Loan program available for properties in select markets, including New York, New Jersey, Connecticut, Florida, Pennsylvania and Massachusetts
The Benefits of This Commercial Loan Program
Many who invest in commercial property have an exit strategy that may include only holding the property for a few years, but they may not want to be forced to sell or refinance if the market conditions are not ideal at that time. Others may want to hold the property for a longer period of time, but they do not plan to hold it for 30 years. The 15-year term on this loan provides you with an extended fixed rate period time with a balloon payment due at the end of the 15th year. With a 30-year amortization, the payments will be reasonable and manageable.
This 15-Year Balloon commercial loan program is just one of several programs available to you through MortgageDepot Savvy real estate investors will take time to review all of their financing options before moving forward with a loan application. At MortgageDepot, we can help you to explore the options available so that you make the best decision possible. If you have plans to refinance your current loan or to purchase a new property soon, contact a loan consultant at MortgageDepot today to learn more about the options that you may qualify for.
*This product is not regulated by the New York State Department of Financial Services