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No Balloon Payments
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Our commercial loan programs allow you to stay in your loan throughout the term of the mortgage if you choose.
Most commercial lenders include "balloon" features in their commercial loans which require borrowers to pay off their mortgage early, generally in 3 to 10 years. A balloon loan will force you to spend thousands of dollars in closing costs and go through the entire commercial loan process again. It could also mean risking a higher cost loan if interest rates have risen. Even worse, if you are in the midst of difficult times in your business or have vacancies in your property, you run the risk of not qualifying for a loan renewal with your lender.
Most commercial lenders include "balloon" features in their commercial loans which require borrowers to pay off their mortgage early, generally in 3 to 10 years. A balloon loan will force you to spend thousands of dollars in closing costs and go through the entire commercial loan process again. It could also mean risking a higher cost loan if interest rates have risen. Even worse, if you are in the midst of difficult times in your business or have vacancies in your property, you run the risk of not qualifying for a loan renewal with your lender.
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This is not an offer to make a loan or to make a loan on any particular terms. All loan applicants must submit a written application and all required documentation. All information submitted by loan applicants is subject to verification. All loan applicants must qualify under our underwriting requirements and satisfy all contingencies of loan approval. Loan approval will be subject to satisfactory appraisal, title review and no change in financial condition. Some loan types may not be available in all jurisdictions. This loan program is subject to change without notice. This loan program is for business purpose and commercial loans only. In connection with an application submitted to us, we may act as a loan broker and not as a lender. Copyright 2003 - 2008 Bayview Financial Small Business Funding, LLC. All rights reserved.
