(Off Topic, Srry RON!) Commercial Mortgage Question

[Eyeball Chambers]

With $100,000 down on a $800,000 commercial building, what would the monthly mortgage payment be?

[newmom]

eyeball, I'd shop for mortgage rates..have you or the person looking for the mortgage been pre approved yet

[Eyeball Chambers]

eyeball, I'd shop for mortgage rates..have you or the person looking for the mortgage been pre approved yet

No, but the person that would be making the purchase has a lot of money and property so I don't think that will be a problem.  I was just doing some basic figures to see how much they'll make monthly.

[newmom]

No, but the person that would be making the purchase has a lot of money and property so I don't think that will be a problem.  I was just doing some basic figures to see how much they'll make monthly.

then here comes a dumb question, why dont they put more money down

[Eyeball Chambers]

then here comes a dumb question, why dont they put more money down

I don't know, I thought $100k was about right? 

I'm just a getbig twink with no money driving a rusted out 1965 Austin Mini.  How should I know anything. 

[newmom]

I don't know, I thought $100k was about right? 

I'm just a getbig twink with no money driving a rusted out 1965 Austin Mini.  How should I know anything. 

lmao, but your a cool twink if that matters

[Eyeball Chambers]

lmao, but your a cool twink if that matters

Thank you, I don't really drive a rusted out mini cooper.  

That would be funny though...



Pulling up to the getbig banquet, my broken down Mini being towed behind Alex23's Hummer...

[calfzilla]

go to bankrate.com they have great mortgage calculators. 

[Eyeball Chambers]

go to bankrate.com they have great mortgage calculators. 

thanks!

[liberty]

At 5 % for 30 years on 700,000
Its $3757.00  a month
Total payback is 1,352,790.00

Not sure what taxes and insurance would be on top of that......

[Eyeball Chambers]

At 5 % for 30 years on 700,000
Its $3757.00  a month
Total payback is 1,352,790.00

Not sure what taxes and insurance would be on top of that......

Thank you sir!

[MJK]

At 5 % for 30 years on 700,000
Its $3757.00  a month
Total payback is 1,352,790.00

Not sure what taxes and insurance would be on top of that......

Banks are f'in theives

[Migs]

It depends on the rate he/she gets, as well as the term.  Also if they are buying any points toward the loan and if any costs are getting rolled into the amount. 

[Eyeball Chambers]

It depends on the rate he/she gets, as well as the term.  Also if they are buying any points toward the loan and if any costs are getting rolled into the amount. 

I learned a thing or two about this in class the other day. 

[Migs]

i'm sure you did young paduan, lol.  commercial RE can be profitable, but is generally a pain in the butt.  Long time to negotiate deals and more involved processes.  I need to find some folks that can buy/sell.  I need to buy some shoes lol.

[calfzilla]

Usually points are not worth it, in some instances they are.