Commercial Mortgage Refinance Magnolia TX

Looking for Commercial Mortgage Refinance in Magnolia? We have compiled a list of businesses and services around Magnolia that should help you with your search. We hope this page helps you find Commercial Mortgage Refinance in Magnolia.

Allied American Mortgage Corporation
(281) 252-3163
306 S. Magnolia Blvd.
Magnolia, TX
 
Amegy Mortgage Company LLC
(281) 297-7800
4576 Research Forest Drive
The Woodlands, TX
 
Marketamerica Mortgage Corporation
(281) 210-2000
25231 Grogans Mill Rd Ste 575
The Woodlands, TX
 
Cornerstone Mortgage Company
(281) 367-7005
1450 Lake Robbins Dr Ste 360
Spring, TX
 
Montgomery Mortgage Inc
(281) 681-0777
3 Grogans Park Suite 102
The Woodlands, TX
 
Truemark Lending Inc
(713) 690-7072
103 Baker Dr
Tomball, TX
 
Nlmc Inc
(281) 296-2185
15 W Southfork Pines Cir
Spring, TX
 
First Victoria National Bank
(281) 296-9675
25661 Interstate 45
Spring, TX
 
Dhi Mortgage Company Ltd
(713) 896-4444
2002 Timberloch Pl
Spring, TX
 
Genesis Mortgage Company LLC
(281) 364-4844
25303 I 45 North
The Woodlands, TX
 

Commercial Mortgage Refinance Costs And Considerations

When you refinance a mortgage , you are typically paying off your original loan and initiating an entirely new loan. This means that you will pay the same initial costs that you paid when you financed the original loan. There are several typical costs involved in refinancing as well as a few things you should strongly considered before making the decision.

A home is for the average person the single most valuable investment they will make in their lives. For commercial property investors the price tag can rise significantly and often far surpasses the investment involved in a personal residence. Unlike a personal home, however, the goal of a commercial property is to make money so the extra investment should be expected.

When refinancing a commercial mortgage , you will have to pay closing costs and other fees, just as you did when taking out your original loan. They typically average somewhere in the neighborhood of 3% and 6% of the total loan. These fees can also be much higher than your original fee, particularly if the property value has risen and you are refinancing for the full appraisal value. Your lender may also require that your purchase points, which can add to your initial monetary investment. Purchasing points means you are essentially purchasing a discounted interest rate. One point can buy a discount of approximately 1/4 to 1/8 of a percent off of your interest rate. Over time, each point your purchase up front can save you a significant amount of money.

In addition to the initial closing costs and other fees involved with refinancing your commercial mortgage , there are some things you should seriously consider before going down this road. First of all, if your loan is for the full value of your property, you will have lost all equity that you had built up in the property. This means that you are back to square one financially and your risks have significantly increased. It also means that your property is no longer a safety net for you and you need to seriously consider other means of saving money for a rainy day.

The second thing to consider is that there are actually times when it is a wise idea to refinance. If your original loan terms carried a higher interest rate than you can get by refinancing or your grace period for an adjustable rate mortgage is almost over it is probably a wise idea to refinance and take the one time hit of extra closing costs rather than the long term hit of oppressive interest rates. The total cost of your mortgage is always the most important consideration. There have been times when wise investors actually saved money over the life of their loans by refinancing the payoff amount of their original loan at a significantly lower interest rate.

Another time when it may be wise to refinance your commercial mortgage is when you are reinvesting the money into your business or property in order to maximize your profit. Whether you are looking at making improve...

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