Thursday, November 29, 2007

Commercial Morgage Payment Calculator

A commercial morgage payment calculator is used just about the same way as a regular amorization mortgage payment calculator is, but you have other factors to consider when working your commercial payment numbers. When using both you must insert the loan amount of cource, the interest rate, and the term of the loan. This will give you your monthly payment. The lowest interest rate may not always determine if you should take that mortgage program or not. You must also take into account that there may be a large prepayment penality of up to 5 years to consider as well as if the program offered to you is an ARM product that may adjust in 3, 5, or even 7 years. Also, look closely at the upfront fees being charged for that commercial program as opposed to the others being offerred to you as well. These other upfront fees are fees that must be taken into your decision making process when looking to buy or refinance a commercial property. Looking soley at rate is only one part of the equation, and using a commercial mortage payment calculator will give you the monthly payment but will not take into account these other very important factors.
Once you feel that the payment is acceptable to your monthly budget, you will need to find a lender that will give you a good rate, low upfront cost and a long term rate. A great place for this is: go to top commercial mortgage program. This is a giant search engine which will most likely find just what your looking for. There is no place that does it as good as this place. It will select from over 750 lenders to find just what your looking for.