no season re-fi?

What is the earliest that I could re-fi a commercial property? Its a commercial property that I would want to re-fi in 3-6 months. Is this possible and what LTV could I realistically take out? I want to take some of the equity out but yet cashflow nicely. I’m sitting at 80% LTV right now. Any thoughts?

Sales price of 271K. Appraisal at 340K (legit) 30 yr first at 8.25% interest with a 3 yr balloon. Put down 10%. Seller second at 27K with no payments no interest with a 8 month balloon. Fico mid 7’s.



Well is there a prepay penalty on your loan? I assume it must be at least a 3yr prepay and lockout?

No pre-pays on the loan.

what type of property is it? Is it owner use? 90% is possible with good numbers but the rates are definately going up unless you go with a very short term loan…

Its an 8-plex, NOO, and why would the rates go up? Less equity is the only that’s changing ???

From a lenders viewpoint, less equity means more risk for them. They make you pay for that risk with higher rates.

That is why it is important to run number when you re-fi to make sure it makes sense.

Patti Porter