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04-23-2024, 05:38 PM #2
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.Last edited by Olderguy; 04-23-2024 at 05:54 PM.
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