I am looking to get my apartment building refinanced, and I have a question. Is it possible to get a 30-year mortgage on a commercial property? The funny thing is, all of the local banks I talk with seem more than happy to do the refi, but they all want to do 20-year amortization with the note called in around 5 years. BUT, the companies I have found online are promising full 30-year notes. Are they making promises they won’t keep, or will they really do the 30-year mortgages? Do any of you guys have any thoughts on this?
look at the difference in rates. You will probably pay up to 4% more for a 30 year note than the 20/5.