Why? Even though there are arguments lenders could give you that you should go with them because they are quoting you a low rate at the inception of the loan process – the low rate quite possibly is deceptive.
A lender can quote you anything they want to quote you at the beginning of the loan process. Because you are not trained in commercial loans, whatever they quote you, you very well could believe.
Let’s say for example that they quote you 4.25% for a 10 year fixed rate, 30 year amortized apartment loan purchase, but the problem is, at that rate they wouldn’t... more