Commercial Mortgage Interest Rates

Commercial Mortgage Interest Rates

Commercial Mortgages

Concerning mortgage loans, the most popular one in Florida is the fixed-rate loan. Generally these loans have a 15- or 30-year term. The ARM (adjustable rate mortgage) loans are also gaining popularity. Other loan types are hard equity loans, interest-only loans, 100% cash out refinance, construction loans, commercial mortgage loans, farmers home loans, no PMI (Private Mortgage Insurance) loans, vacant land and acreage mortgage loans. The mortgage rates vary depending on the market conditions.

Commercial Mortgage Interest Rates

The different types of mortgage loans available in Florida are: FHA (Federal Housing Administration) loans, consolidation loans, land loans, conventional loans, balloon loans and refinance mortgage loans.

The Internet is a wonderful source of information concerning low mortgage interest rates. They contain a wealth of information about current rates, various options, new packages and so on. The best way to get a low rate is to compare the many quotes. It s very easy to compare quotes on the Internet.

The most important thing is to get an interest rate that suits your family budget. Rates depend on various factors like the mortgage loan you have opted for, your financial resources, credit history and other factors.

Commercial Property loans can now include new construction, renovation, land acquisition, purchase and refinancing. Because of more flexible Commercial Property loans, it is no longer necessary for these vital Commercial Property financing needs to be postponed indefinitely.

As noted above, there are several major obstacles for Commercial Property financing. A recommended follow-up to this article provides a review of commercial real estate financing for special purpose commercial properties such as funeral homes, assisted living facilities and nursing homes

The mortgage loan rates in Florida are typically 6.125% for a 30-year fixed (6.173% APR), 6.0% for a 20-year fixed (6.063% APR), 5.750% for a 15-year fixed (5.828% APR), 5.00% for a one-year LIBOR ARM (5.070% APR), 5.625% for a three-year LIBOR ARM (5.698% APR), 5.750% for a five year LIBOR ARM (5.824% APR), 6.375% for a 30-year jumbo fixed (6.400% APR) and 6.250% for a VA 30-year fixed (6.469% APR). These loan rates are based on loan amounts ranging from $125,000 to $400,000 while the jumbo loan rates are based on loan amounts ranging from $400,001 to $650,000. (These rates are applicable as of November 5, 2005.)

 

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