When you need a loan, do you only focus on RATE or Benefit?
When I speak with clients, majority believe the deal is dependent upon the RATE, and this is wrong! Yes, rate is a part of the loan but should not prevent you from securing financing that can directly impact your company. Rate is affected by credit score, loan to value, debt to income and risk! But allow me to show you why you should focus on the BENEFIT and not the cost.
A client purchased a building in Cali, for $800,000 at 7% in September 2013. Client could have waited until his financial situation improved but this was a very attractive deal. Fast forward 5 years, California has experienced on average 4.5% appreciation year over year. Today the building is approx... Valued at $996,000 and client realized approx... $196,000 in appreciation! To understand the difference let’s compare this to a rate of 4.75%, yes the client paid approx. $70,089 over the 5 year period additionally, but let’s break this down further. That translates into $14,018 annually, or $1,169 monthly in additional cost. $196,000 less $70,089 is $125,911 in appreciation!
The expression "You can’t see the forest through the trees” is an excellent example of why most businesses lose out on opportunities or fail to obtain the financing that would directly benefit them.
For an honest review of your financial situation, please contact me directly.
Michael Koprowski
Account Executive
Linkedin: linkedin.com/in/mike-koprowski-36123718
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