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property marketing - loan with zero points to finance this...

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Custom Care Auto Repair has decided to purchase a commercial property. The property is located on 417 North Franklin Street in Lancaster, Pa. Using loopnet.com, a commercial real estate site online, we found the perfect retail property for sale. It is a car repair shop with everything our business needs. It has a lube center, 2 garages to work on cars, a small office, and 50 + parking lot for customers and employees. The only thing our company has to do is personalize the building with our name and make a few other minor interior details. The whole facility costs $495,000. Our business has decided to take out a 15 year fixed
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Unformatted text preview: loan with zero points to finance this expense. Bankrate.com found a loan from Bank of America that fits our needs. We must first put 20% down which would be about $99,000 dollars. The annual percentage rate for the loan is 5.794. The fee in APR per month is 1,400. Our monthly payment on our mortgage loan is estimated at $4,111 dollars. This makes our yearly payments to be about $49,332. Our first year expenses would be estimated at $148,332. Cites http://www.loopnet.com/property/16210490/470-N-FRANKLIN-STREET/ Bankrate.com And check all my math just to double check. . any questions. Text me 717-476-6565...
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