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| *Ostroff, Fair and Company>>>Renting & Real Estate |
Is 8.75% interest on a commercial loan high? |
Are there commercial lenders who will go lower? I know people that recently received a commercial loan at 12%, so I think you are doing just fine. Source(s): Oregon Realtor Unsecured? Secured? Even if it's a secured loan the rate for commercial is very good. You have awesome credit if it's a commercial loan. I'd say it's a decent rate, but the rates depend on your credit, so it's hard to say. Remember that business loans are not regulated the way consumer loans are and might not be regulated at all. For example, most business loans are not covered by state usury laws so the lender can charge any interest rate he wants. Commercial loans are usally 2 pts above prime, and prime right now is 7.5. So, if you can get 8.75, that's a steal! owns lots of commercial property Obviously there are many specifics to consider. Wall Street Journal Prime is now 8.25%. Without more info, this actually sounds like a good deal. |
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