What's new
Car Wash Forum

This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

Loan terms

dynomonkey

New member
Currently looking for loans to purchase a SS. Curious on what terms people are on. The SBA is offering a 25year term with 6% and a monthy adjustable. The banks is loaning 15-20 year at 7% and adjustable every three years. What have you guys done.
 
Refinancing one of my loans right now. Bank A which has the loan has offerred 6% 5/15 but they want a new appraisal and a new environmental.

Bank B which has two other loans already offered 6.25% 3/15 and they want an updated appraisal. Nothing mentioned about an new environmental. Probably Bank A loses this loan.....
 
There is a decent chance in the next five-ten years that rates will skyrocket.

Ask yourself if the loan is workable with a 12% note. If not, lock the rate in over the entire term if any way possible, even if you have to pay a slightly higher rate. just my two cents.....
 
I agree with CF, there is no way that we won't have 15% money within 5 years. The only way they are keeping it down now is that the whole world is a mess, but that won't continue.
 
Back
Top