SOURCE: Logix Federal Credit Union
BURBANK, CA--(Marketwired - Oct 29, 2013) - Logix Federal Credit Union has a new, unique product available for commercial real estate investors, the 5/5 Adjustable Rate Commercial Real Estate Term Loan. This pioneering product is embraced by investors due to its cost-saving opportunities for commercial real estate purchase and refinance.
Our 5/5 ARM commercial loan features:
- 15-year term, and based on remaining usable life of property, payment amortization may be up to 30 years with a final balloon payment at the 15-year maturity date
- Index based on the 5-year Treasury Constant Maturity Yield
- Rate and payment adjustments occur only once every 5 years
- Rate changes are capped at 2.5 percent at each 5-year adjustment, with a maximum life of loan rate adjustment cap of 5 percent over the start rate
- No application fees
- No yield maintenance pre-payment penalty
"Having worked with Logix Federal Credit Union on more than one commercial loan, I can say that their rates are competitive and level of customer service is superior," Logix member Jose Olvera said.
Eligible property types include commercial office, light industrial, retail and multi-family. The maximum loan-to-value on purchase and refinance transactions:
- 70 percent on income and multi-family properties
- 65 percent on business and other commercial properties
The 5/5 ARM allows members the opportunity to pay off their loan at any time.
"The fact that there is a ceiling for the loan rate is also a benefit that helps members make the decision to pursue one or more commercial loans with Logix," Business Lending Manager Michael Na said.
This commercial loan opportunity is offered only in the Southern California market area. For more information call (818) 565-2470 or email firstname.lastname@example.org.
Logix offers a variety of services, including checking and savings accounts, auto and mortgage loans, and credit cards. Logix is rated "superior" for financial strength and currently has more than $3.7 billion in assets and 114,000 members.
Chartered in 1937, Logix offers preferred rates on savings and loans accounts, surcharge-free access at 30,000 ATMs, and access to a nationwide network of branches. The credit union is the largest financial institution headquartered in the San Fernando Valley. Logix operates 13 branches in the San Fernando, San Gabriel, Santa Clarita and Antelope valleys, as well as eastern Ventura County. Savings are federally insured by the National Credit Union Administration, a U.S. Government Agency. For more information, visit www.lfcu.com or call (800) 328-5328.