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Eyeball Chambers
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« on: February 28, 2010, 09:13:20 AM » |
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With $100,000 down on a $800,000 commercial building, what would the monthly mortgage payment be?
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newmom
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« Reply #1 on: February 28, 2010, 09:15:10 AM » |
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eyeball, I'd shop for mortgage rates..have you or the person looking for the mortgage been pre approved yet
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Eyeball Chambers
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« Reply #2 on: February 28, 2010, 09:19:47 AM » |
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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. |
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newmom
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« Reply #3 on: February 28, 2010, 09:21:09 AM » |
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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 |
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Eyeball Chambers
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« Reply #4 on: February 28, 2010, 09:24:44 AM » |
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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.  |
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newmom
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« Reply #5 on: February 28, 2010, 09:28:38 AM » |
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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 |
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Eyeball Chambers
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« Reply #6 on: February 28, 2010, 09:29:22 AM » |
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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... |
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calfzilla
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« Reply #7 on: February 28, 2010, 10:06:22 AM » |
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go to bankrate.com they have great mortgage calculators.
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Eyeball Chambers
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« Reply #8 on: February 28, 2010, 10:10:07 AM » |
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go to bankrate.com they have great mortgage calculators.
thanks! |
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liberty
Competitors II
Getbig IV
Posts: 2065
Getbig!
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« Reply #9 on: February 28, 2010, 10:40:00 AM » |
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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......
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Eyeball Chambers
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« Reply #10 on: February 28, 2010, 10:42:03 AM » |
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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! |
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MJK
Getbig III
Posts: 588
BB is not a sport it's a business.
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« Reply #11 on: February 28, 2010, 10:42:17 AM » |
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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 |
Welcome to Slovakia
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Migs
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Getbig V
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Posts: 14510
THERE WAS A FIRE FIGHT!!!!
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« Reply #12 on: March 03, 2010, 08:25:07 PM » |
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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.
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MMM BOOBIES
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Eyeball Chambers
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« Reply #13 on: March 03, 2010, 08:38:55 PM » |
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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.  |
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Migs
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Getbig V
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THERE WAS A FIRE FIGHT!!!!
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« Reply #14 on: March 03, 2010, 09:00:53 PM » |
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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.
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MMM BOOBIES
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calfzilla
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« Reply #15 on: March 04, 2010, 01:08:24 AM » |
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Usually points are not worth it, in some instances they are.
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