Comparing mortgage loans

flupsie

I have a business mortgage of $ 5 M which was taken out several years ago and the balance owing currectly is $ 1.5M at an interest rate of 5.5. I require $ 10M for expansion purposes which I can finance as follows:
1) $3.5M can be advanced on the original loan (Int 5.5%)
2) I have cash of $ 1.2 which I can deposit into the current mortgage and receive interest at 5.5 % until the funds are required to be drawn out of the mortgage a/c
3) I can borrow $ 6.50 from the current bank at 6.0%. A opposition bank is prepared to lend me $ 6.5M at 5.85%
4) I can borrow the full $ 10 from an opposition bank at 5.75%. However If I cancel the existing morgage with the current bank, there is a penalty for cancellation of the morgage of 1.2%

I would like to set up a spreadsheet to do a comparison of the vsrious options


It would be appreciated if someone could assist me

Yorkie1

This is a consumer website in the UK.

You are dealing with commercial products in, it appears, the US.

I doubt anyone on here will be able to assist.

DVardysShadow

flupsie wrote: »

.... I would like to set up a spreadsheet to do a comparison of the vsrious options

It would be appreciated if someone could assist me

Pay someone to do it for you. Or are you short of cash?