Refinancing commercial real estate is the act of paying off an existing loan with the proceeds from a new loan, usually of the same size and using the same property as collateral. If you’re like most commercial real estate owners, you’re probably wondering how you can take advantage of these historical low interest rates. Commercial mortgage rates are at all-time lows and now would be an opportune time to explore your financing options. There are many factors to consider when refinancing a commercial real estate loan. Below are steps to guide you through the commercial refinance process.
Steps to Refinancing
Step 1 - Motivation - Identify one or more reasons for refinancing.
Step 2 - Ability - Determine if you're abile to refinance existing loan.
Step 3 - Benefits - Determine if new loan will meet financing objectives.
Step 4 - Package - Assemble "Pre-Loan Package" to submit to lenders.
Step 5 - Submit - Submit loan package to commercial mortgage broker to begin refinance process.
At Gray Commercial we assist our clients through the entire refinance process for quick and easy closings. We pride ourselves on certainty of execution. If we quote something we are confident we will be able to close under the same terms. With a streamlined underwriting process we are able to deliver quotes within 24 to 48 hours. For a free quote, please forward property information and lease details. If you have any questions, comments or require additional information, please free to contact Ryan Gray at email@example.com or at (650) 931-9020.