What interest rate should I anticipate paying for my commercial real estate loan?
As with any loan, the rate is largely credit driven. If you have very solid credit, above 700, todays rates should be in the 4's to 5%, fixed for 5 years with a 25 to 30 year am.
If your score is in the 650-680 area, the range could be in the 6% to low 7s. and if your score is in the low 600s, high single digits to low double digits.
We work with many clients with challenged credit. We get them approved with a bridge lender, than introduce them to a credit repair group, in hopes of getting their bridge loan refinanced at a low rate 12-18 months out.