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Commercial Refinance – Part 2
4 things to know prior to commercial refinance:
• Personal liability Even though the entity taking the loan will be an NNC, you are personally liable.
• Prepayment terms If you want to pay early, you will be hit with pre-payment.
• Importance to consider When you take out a mortgage you’ll have taxes, so you will want to negotiate the terms so you do not have to pay all the fees.
• Source of the funds from where you’ll make the payments on this loan If you have home banking institution, you shouldn’t need to open a new account. Zand & Fine LLC has real great options that can help you with all your needs.
