Commercial Mortgage Brokers – Easing the Way

By Doherty • May 4th, 2011
Property market

Image by alancleaver_2000 via Flickr

On commercial loans, the terms of interest, interest rates, and minimum loan amount differ among lenders. Online lenders offer commercial loans, too, but how do you know who to approach with your investment deal? It’s no secret that banks and financial institutions have tightened qualification requirements on commercial loans and require exacting documentation on the project and the borrower. Consider the time and effort you might save with the help of commercial mortgage brokers.

Commercial mortgage brokers deal with these situations on a daily basis. They’ve seen all the paperwork and know what is required on credit checks and other documentation. They have relationships with lenders, so are often able to make contacts the average borrower never could. Because of the volume of deals they bring to the lenders, they may be able to secure a lower rate or very specific terms for the borrower.

Commercial mortgage brokers understand how to do the needed searches and establish market value for the project, and can point out any issues with the project that could derail it. They can present the project to the appropriate lender, and show it to best advantage for the borrower. Because of their familiarity with lenders, they will be able to select the appropriate one. If time is critical on the project, they know which lenders drag out the qualifying process and which move it at a reasonable pace.

Commercial mortgage brokers can guide the investor through the entire process and help with the critical forms and documentation, so a minor error doesn’t kill the deal. You will likely need the help of commercial mortgage brokers if you’ve already tried for a loan and have exhausted all of your lending sources, or if you need a special transitional loan.

Good commercial mortgage brokers know their markets and the lenders, and have skills that can be of great value in securing your loan.

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