Q&A: Getting a loan for a medical office building

Q: Why won't lenders offer 15-year or 30-year fixed-rate loans on small medical office buildings?

Most banks tend to offer 5-year fixed-rate terms on a 15-to-25-year schedule, primarily so such loans can periodically be repriced and evaluated. The good news is that these loans tend to be highly negotiable for physicians. Your bank can provide you with details about its particular conditions for such loans.

Send your money management questions to [email protected] (please include your regular postal address). Answers to our readers' questions were provided by Steve Austin (left), executive vice president of Commerce Bank in Tulsa, Oklahoma.