Best Commercial Loan Interest Rates

This week we had a credit union quote a fixed interest rate of 5.99% for 15 years on an apartment refinance loan request. This is the longest term I have seen a lender issue and fix the rate for this loan type. It’s fun as a broker to be surprised by the rates and terms we are able to get our borrowers. A normal 10 yr rate can range from 5.75% to 6.25%. In fact, the quotes we received from other lenders on the same property fell within that range.

When a deal qualifies for our wholesale lending channels such as insurance companies, conduit lenders, and some SBA lending sources, the interest rates and structure of the financing is difficult for local lenders to beat. Some of our sources offer non-recourse loans with 10 year fixed rates around 5.5%. Purely variable rates can be in the 4% range. Borrowers can choose from several interest rate options depending on how long they want their interest rate fixed.

 

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