No Balloon Payments »
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.