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But, with commercial mortgages traditional lenders at their discretion can deny
the extension if you fail to meet their annual reporting requirements or violate
their loan agreement…
If you don’t fit the loan agreement schedule while your servicing the loan the
lender can call the loan due…
Furthermore, if they get merged by a bigger bank or feel that they have to
much risk on the books they can call the loan due…
Commercial lending options by traditional lenders is a finicky world and the
banks are finicky about commercial properties, investors, and business
owners…
When you combine the fact that commercial banks are finicky with refi
-cashout requests your literally adding lighter fluid to a burning furnace.
So as you can see the low rate does not mean the best terms for your
scenario...
It is a costly mistake to focus on rate or chase low rates when you can get
better overall terms elsewhere from an alternative source...
In this business operating with stable loan terms are essential to building
wealth as an investor, and increasing your business performance..
With an alternative source you can count on peace of mind, flexibility,
predictability and freedom.
So next time you are looking for a commercial loan don’t get blindsided by
searching for low rates it may not be the best overall option.
Nasir
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