Commercial Mortgage Refinance Upper Marlboro MD

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

Fieldstone Mortgage Company
(301) 669-1200
8903 Presidential Pkwy Ste 200
Upper Marlboro, MD
 
Challenge Financial Investors Corp
(301) 599-5565
9672 Pennsylvania Ave Ste K
Upper Marlboro, MD
 
Redevelopment Authority Of Pg County
(301) 883-5300
9201 Basil Court Ste 155
Largo, MD
 
Smith-myers Corporation
(301) 883-8810
9200 Basil Ct Ste 100
Upper Marlboro, MD
 
First Chesapeake Home Mortgage LLC
(410) 573-1131
1100 Mercantile Ln Ste 119
Upper Marlboro, MD
 
Patuxent Mortgage Co
(301) 627-6960
7611 South Osborne Rd Ste 103
Upper Marlboro, MD
 
Amstar Mortgage Corporation
(301) 808-1344
8941 Town Center Cir
Upper Marlboro, MD
 
Premier Mortgage Funding Inc
(301) 341-5634
9500 Arena Dr Ste 360
Upper Marlboro, MD
 
Washington Mutual Bank Fa
(301) 324-4100
10562 Campus Way S
Upper Marlboro, MD
 
Pinnacle Financial Corporation
(301) 336-8440
9315 Largo Dr W
Upper Marlboro, MD
 

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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