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This answer was rated:

In Los Angeles, are rates to refy an apartment building about

the same as a home...
In Los Angeles, are rates to refy an apartment building about the same as a home mortgage? Where do I find a list of rates?
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Answered in 25 minutes by:
4/27/2013
Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 7,429
Experience: Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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Hi Scott: Commercial rates tend to be a little higher than residential and also for shorter terms, i.e. 15 years rather than 30. Nobody publishes rates, so you have to go shopping. You can search LA commercial mortgage rates, and get names of lenders to contact.

I hope this information is helpful and that you will enter a positive rating. I thank you for submitting your question to Pearl-Just Answer. We appreciate your business.

Ask Your Own Real Estate Law Question
Customer reply replied 4 years ago

Ok, so by a little more, if homes are currently at, what, 3.5%?, are apartment buildings, generally speaking, at 3.9% or higher like 1.5% more?


 


Are the rest of the terms similar, such as an option for interest only for a while?


I don't want the exceptions to the rules, but more the norm.


thanks

You might be looking at 5 - 5.25 depending on your financial condition and the project itself. Terms are always individually negotiated. It's all depends on the risk assessment which is a function of analyzing the LTV ratio and the borrower.

I hope this information is helpful and that you will enter a positive rating. I thank you for submitting your question to Pearl-Just Answer. We appreciate your business.

Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 7,429
Experience: Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
Verified
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