Financing in San Francisco>Question Details…, Home Buyer in San Francisco, CA

Our TIC (4 unit building, about 45% already paid into it) is looking to refinance. We have two loans that we are trying to consolidate into one.

Asked by dougherty.kyle, San Francisco, CA Thu Sep 6, 2012

What kind of rates can we expect and how easy would it be to fold the two loans into one? It's a group loan. Looking to avoid prepayment penalties, points, etc.

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trent’s answer
While your question is simple, the "right answer" is actually pretty complicated. In addition to the other Trulia contributers suggestions you need to consider:

1] Does your your current loan have a partial assumability clause, prepayment penalty etc
2] Are you already in the condo lottery?
3] Will anybody be selling their unit in the near future?
4] How strong are the finances of current TIC group?
5] Should your TIC group consider fractional TIC loans?
6] If you trust the realtor who sold you your unit, you should contact them for advice.....especially if they have sold a number of TICs units.

If you like you can contact me at and I would be glad to answer any questions you have about TIC financing.
0 votes Thank Flag Link Fri Sep 7, 2012

Check in with a phone call with each of your two lenders to see if there are any prepayment penalties.
It's possible there are no prepayment penalties after a few years or if you refinance with the same bank.

My office manager is a loan specialist: Tom Chan (415) 731-0303

Referred by: Helen Yuen, Land & Property Investment, Inc. (415) 469-0577
0 votes Thank Flag Link Fri Sep 7, 2012
Consolidating shouldnt be an issue depending on what the combined loan to value is of the property and what kind of 2nd you have. Wer have clients signing tomorrow that did the same thiung however. To quote an accurate rate its best to get more details of the tranasaction - if you have a minute you can fill this out and I will get right back to you!
0 votes Thank Flag Link Thu Sep 6, 2012
I have several lenders we work with and happy to refer if you want. Contact info below. And though rates will be better on a group loan you'd be better off with fractional if any of you are thinking about selling. We work with this type of property a lot and happy to answer any questions off line.

Best Regards,

Lance King/Owner-Managing Broker
DRE# 01384425
0 votes Thank Flag Link Thu Sep 6, 2012
Thanks Lance. I will contact you later on today.
Flag Thu Sep 6, 2012
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