Borrower FAQ’s

1. Who is APEX Mortgage Corp.?

   
   APEX is a subsidiary of Firstrust Bank, a Philadelphia institution with over $2.2 billion in assets. Because we are a subsidiary of a privately owned bank, we have access to virtually unlimited capital and we are expertly positioned to service the needs of customers who fall outside of traditional bank parameters. To learn more, about us, please click HERE.




2. My bank turned me down recently, can you help?

   
   YES! All we do are loans to commercial property owners. We understand your unique needs. APEX takes a “common sense” approach to approving your request. We are helping business owners like you every day who have been turned down by their bank.




3. What are my up front costs?

   
   There is absolutely no up front cost to get an approval from APEX Mortgage. After we have approved your loan and you have a binding commitment letter in your hands, you will need to purchase an appraisal of your property from one of our approved appraisers. DO NOT order your own appraisal. This is your only expense before closing. If we can’t offer a commitment letter, or you decide not to purchase your appraisal, there is no cost to you.




4. How long will this take?

   
   You will know the same day you talk to us whether we can help. Generally loan closings occur within 3 weeks of our first conversation.




5. What do you need from me?

   
   It is very easy to get the ball rolling. There are two easy ways to find out how APEX can help you. First, you can click here – answer a few simple questions and one of our loan officers will call you to discuss your request. Or, you can call 800-262-2739 and ask to speak to a loan officer. We’ll need about 15 minutes to learn the basics and let you know how we can help.




6. Will my property qualify?

   
   APEX mortgage can make loans on almost all commercial property. Click here to see eligible property types.




7. Will my new loan with APEX balloon?

   
   No. All loans from APEX Mortgage will have terms from 15 to 25 years. Your loan will not balloon.




8. Can I use my APEX loan to pay taxes?

   
   Yes, APEX understands that there are many reasons why you may need a loan for taxes. Many borrowers have used their APEX loan to bring their taxes current.




9. My credit is not perfect, can you help me?

   
   Yes. Your past credit history is very important to a final loan decision, however APEX understands that small business owners may not have perfect credit and is willing to look at scores as low as 600. APEX takes a common sense approach to the approval process. We are going to look at all aspects of your loan request, and we will listen to your story to qualify you.




10. My bank can’t help me because my request is too small. Can you help?

    
    Yes, APEX will make loans as large as $500,000. And, we are happy to consider requests as low as $25,000