Mortgage Rates Were Better Than Quoted
Finance & Insurance August 7th, 2009My friend the doctor decided to branch out on his own and open his own practice. He had found the perfect building that was located down the street from the one he used to work for. He started shopping for a commercial mortgage advisor that could help him get the best mortgage rates.
He has had meetings with two different advisors and they both had let him know that in order to qualify for a commercial mortgage loan, he would have to have at least twenty percent of the purchase price for a down payment. He knew that he had the twenty percent and should have no problems with securing the loan.
The commercial mortgage was subject to a list of inspections. My friend was there for everyone. He wanted to make sure that the inspectors did not miss anything. He even climbed up on the roof with the roof inspector.
The day that he got the commercial mortgage loan accepted and had qualified for a better rate than the original mortgage rates he was quoted, we went to dinner to celebrate. He could not believe that his dream of owning his own practice was going to come true. It had been a dream of his, since he was very young.
