4.9% Fixed Commercial Interest Rate

Recently we closed an owner occupied real estate loan with a bank 5 year fixed rate of 4.9%. When we began the application process we hoped to have a 5.25% interest rate; however, with the downturn in rates we were able to beat our own expectations by 35 bps. It was a great day for us to provide such competitive pricing.

The borrower had been in business 3+ years. Cash flow was strong for the prior 3 years. The borrower was currently renting their property and purchased it from their land lord. The property was located in a “par” area of Utah. This also happened to fund with a wholesale source of ours which means the borrower paid us nothing additional to procure the deal. It was a “perfect storm” as many brokers would say.

We have solutions for all deal types. Whether you have been turned down or are looking for the best terms because you and your business deserve it, we have a solution for you.

Related Posts

Comments are closed.

business loan clients