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 Trent@TrentHu.com and I would be glad to answer any questions you have about TIC financing.
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
Lance King/Owner-Managing Broker