[bmckenzie67]

Client with three investment Commercial Retail/Restaurant bldgs. looking to refinance out of current 5 -yr. ARM renewed approximately 7 months ago. They are seeking long-term financing (20-30 yr. terms preferred) with no PG. Properties appraised in January 2023 for $12.5MM, and they owe approx. $6MM. Properties are 100 percent occupied, and are located in Tyler, TX.

Please advise if you are interested in funding this asset.

[Olderguy]

Why are they wanting to refinance out of a 5 year arm only after 7 months? It's just fixed for 5 years with a longer amortization. That's the way commercial loans are underwritten. They probaby already have 20 - 30 year amortization. So I think what you are looking for is a 30 year fixed and this doesn't make any sense. Unless it's a 5 year with a balloon?

Clarify it for me.

[bmckenzie67]

Steve,

Thank you for your recommendations, but I am looking for actual lenders and not brokers for responses. I am aware of the questions you posed.

[Olderguy]

https://www.c-loans.com/

Scotsman's Guide

https://www.scotsmanguide.com/

https://privatelenderlink.com/search/

I have another - so reach out and I'll advise on that one.

And reach out if you need help

[GrowthHacker]

..

[Yankeeman07]

Client with three investment Commercial Retail/Restaurant bldgs. looking to refinance out of current 5 -yr. ARM renewed approximately 7 months ago. They are seeking long-term financing (20-30 yr. terms preferred) with no PG. Properties appraised in January 2023 for $12.5MM, and they owe approx. $6MM. Properties are 100 percent occupied, and are located in Tyler, TX.

Please advise if you are interested in funding this asset.

Curious - did you secure a 20/30 year Commercial Mortgage?
If so, how much was the penalty to close out the 7 month ARM?