Considering refinancing your commercial property? There are plenty of reasons to think it over. You might be looking for a cash-out refinance to free up some funds for repairs or renovations. You might want to switch from a variable to a fixed rate in order to lock in some financial security. Maybe you have an upcoming balloon payment (when most of your loan comes due at the end) that you’d like to avoid. Or maybe you’d just like lower rates.
Other options are to lock in low long term rates, improve cash flow, improving terms, consolidating debt, equity disbursement (partner buyout), or finance property improvements
Can you do a cash-out refinance on a commercial property?
Yes, it’s possible to do a cash-out refinance on a commercial loan. Commercial lenders allow borrowers to cash-out up to 75% of the property’s current valuation. This method is a solid option for business owners who want to tap their equity and use the cash to make substantial improvements to the property or to add more properties to their portfolio.
Have more questions? Are you located in Washington, Oregon or Idaho?
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