Greetings all:

Can anyone give me an idea how much is the normal montly payment if someone buys a medallion and puts only 10% down.  What are the terms, 10 years, 15 years, interest rates.  Can anyone elaborate on these items?

You won't get it for 10% down, need 70k as a minimum.  100k gets better rates, best rates & terms you will need 20%.  So we are talking at least 15% down, at 580k price.

Rates vary, based on how much you put down, and if you are going to balloon mortgage it, and if you go with the broker or a credit union like Melrose or Bayridge.

Call a couple of brokers to find their deals.  I used Keegan at Pearland.

Good Luck, Antolin