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What Types Of Commercial Mortgage Loans Are Available?

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What Types Of Commercial Mortgage Loans Are Available?

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Even though each commercial mortgage loan is unique, the terms of the loans are normally common throughout the nation. You will find that your little local bank will not have the most aggressive programs. The best chance of you having a menu of products from which to choose is to have a professional mortgage advisor help you. However, here are a few of the most common commercial mortgage financing products: Adjustable Rate: There are many variations of this with different fixed terms within the product ranging from a 6 month fixed term to a 15 year fixed term. After the fixed term is complete, the loan will start adjusting. Fixed Rate: Normally commercial mortgages do not have a long-term fixed component to them. The fixed part of the loan is a part of an adjustable or balloon mortgage. Balloon Mortgage: This is a fixed rate for the entire term of the balloon part of the loan. Many commercial mortgage loans will use a balloon ranging from 3 years to 15 years. After the balloon is due,

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