“Can I do Commercial Mortgages?”
Hello, Joe!
My brother and I are looking to refi the homestead up in Ludlow. It
seems anytime the word mortgage comes up in our family. 1. We do our
checking with TD Bank and while I was there one day and out of curiosity
I asked what they would have available, the guy said 5.5% with 5 year
rate adjustment allowance amortized over 20 years, is that the way the
system works now? 2. Do you do any commercial lending? If so, where do
we begin?
Cheers, Mary Lynn
As
luck would have it, I have a banker referral partner in her area that I
thought could do a better job than I could for Mary Lynn and her
brother. He was able to get her a 4.75% commercial mortgage that is
fixed for 15 years.
Could
I have done a commercial mortgage for them? Of course, but the rate
would have been comparable to what she was originally told. I would much
rather do what is best for my client and they will remember the result
for years to come.
