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Commercial mortgage

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Icon Mini Profile colum
colum




Joined: 29 Apr 2009

Posts: 15
Location: Columbus, OH
6.52 Dollars($)
Post Posted: Wed Jun 22, 2011 7:25 am    Post subject: Commercial mortgage
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We (company) have the ability to buy an Multi Family House in commercial mixed zone. House is vacant so we can use also for office, house is believed to our headquarter in Ohio.

Is it possible to refinance this house instantly after we purchased it? Value is $115,000 purchase price well below $70,000 and we want only a 40% LTV mortgage.

Thanks for your responses.
Icon Mini Profile chrisgummerson

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Joined: 29 Apr 2010

Posts: 704
Location: La Palma, CA
9.98 Dollars($)
Post Posted: Wed Jun 22, 2011 8:11 am    Post subject:
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Commercial loans are not regulated as residential loans. If you are paying cash for the property and want to refi shortly after, you can try community banks and private money/hard money lenders in your area.
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Chris Gummerson
Bay Valley Mortgage Group
bayvalleymortgage.com
714-367-5125
Icon Mini Profile paydaycashtilpay





Joined: 24 Jun 2011

Posts: 1

1.15 Dollars($)
Post Posted: Fri Jun 24, 2011 5:50 am    Post subject:
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You can try to get loan from money lenders and the finance houses for this or you can ask any of your frnd who is having money or any contacts which can generate some finance for you .thanks hope u soon be able to buy that house. Take care
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Icon Mini Profile sfoasia





Joined: 06 Jan 2012

Posts: 2

1.27 Dollars($)
Post Posted: Fri Jan 06, 2012 6:12 am    Post subject:
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Refinancing the house quickly would be tough but you must make the big payment then only you will be able to get the refinance the loan.
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