“I have been in this business for over forty years and I have never seen interest costs as low as they are today.” Said Victor Weintraub, President of First Charter Financial, a nationally recognized mortgage firm.
Scottsdale, AZ -- (SBWIRE) -- 10/24/2012 -- Now is the best time to refinance commercial Real Property. The opportunity to save very important money is here now and it will not last forever. Wise property owners will take advantage of the historically low interest rates that are available today. There is the opportunity to have real cost savings for the next ten years by refinancing into a new fixed rate mortgage now.
It is the result of “Quantitative Easing” by the Fed. Liquidity in the monetary system has forced interest rates down and swelled the availability of loan funds. The slack economy also plays a part in the present capital markets situation for commercial properties. Interest costs for many classes of commercial properties are in the mid four percent range and multifamily interest costs are well below three percent. Easily two percent below where interest costs were just a few years ago. A saving of two percent on interest cost equals $20,000 for each $1 million of mortgage. A $10 million mortgage would yield a real cash savings of $200,000 yearly. That is important money.
First Charter Financial Corporation is a leading independent mortgage company conducting business on a nation wide basis. We specialize in arranging financing for commercial propertied throughout the US. The projects that we handle include office, retail, multifamily, hospitality and specialty properties. We arrange loans in amounts ranging from a minimum of one million dollars up to as large as 100 million dollars. We maintain relationships with large and small insurance companies, retirement and investment funds, regional, national and multinational banks and we are very active with capital markets funding sources. Victor Weintraub is the President of First Charter Financial and has been in the business for over forty years. Contact First Charter Financial with your commercial mortgage concerns. 480 970 0990.