Which Commercial Loan is Best for Me?

So which type of mortgage is best for you, Fixed Rate, Adjustable Rate, Hybrid ARM, a Government loan?  Truthfully, there is no single correct answer!  Given the many different types of loans and term lengths, the choice can be difficult to make.  It is an extremely important choice and you can definitely benefit from research prior to making your final decision.  Some time and effort right now can save you thousands of dollars in the long run.  Your personal situation will determine the best type of loan for you.  By asking yourself a few questions, you can help narrow your search among the many options available and discover which loan suits you best:

  • Do you expect your finances to change over the next few years?
  • Are you planning to own this property for a long period of time?
  • Are you comfortable with the idea of a changing mortgage payment?
  • Do you wish to be free of mortgage debt as your children approach college age or as you prepare for retirement?

Assets America® can help you use your answers to questions such as these to decide which loan program best fits your needs best.  Below is a general guideline that may be useful to consider when selecting the right commercial mortgage for your property:

Years you plan to own your property Plan to Consider
1-3 3-year Fixed, or ARM
3-5 5-year Fixed
5-7 7-year Fixed
7-10 10-year Fixed
10+ 10, 15, 18 or 30-year Fixed