What do you do when your borrower is declined for a commercial mortgage loan at a bank? This is a question most commercial mortgage brokers are going to face at one time or another, since there are many small-business owners who will not qualify for traditional financing. It might seem that after a bank turns […]
Read More… from Don’t Fret Over a Bank-Loan Turndown: Hard Money Isn’t The Only Option
When a small business owner is turned down for a commercial mortgage by their local bank, it can seem like there are few financing alternatives, one of which is a short-term hard money loan. However, when a broker knows where to look, non-bankable borrowers will find that they have more options. Yes, for some borrowers, […]
Read More… from Non-Bankable Commercial Mortgage Borrowers Have Options
Whether you’re a commercial broker looking to expand their product line or a residential broker interested in closing smaller commercial transactions, the nonconforming commercial mortgage niche is a great option. This under-served market provides brokers with the opportunity to branch out and increase their business. Here are the benefits of closing these loans: You can […]
Read More… from The Benefits of Closing Nonconforming Commercial Mortgages
Knowing where your borrower’s commercial mortgage scenario fits is an important part of successfully closing loans. Placing the loan with the right lender from the beginning will make for a much simpler and speedier underwriting process and closing. If you’re a residential broker looking to close commercial mortgages or a commercial broker looking to expand […]
Read More… from Where to Place Your Small-Balance Commercial Mortgage Borrower
If you’re a commercial mortgage broker who routinely works with commercial borrowers, you know it can be difficult to place clients who need small-balance commercial mortgages. Traditional lenders don’t see these loans as profitable, and many small business owners can’t qualify for bank loans. However, there is an outlet for these borrowers. APEX Mortgage Corp. […]
At APEX Mortgage, we value the partnership we have with all of our brokers and understand their crucial role in the process of closing commercial mortgages. We routinely seek feedback from our brokers in order to improve our business and your experience with us. One of the most common things we hear is that our […]
As a commercial mortgage broker, it’s your job to find your borrowers the commercial mortgages that best fit their needs. However, if you’re working with non-bankable borrowers seeking small-balance financing, finding the right loan can be difficult. While there are certainly options for these borrowers, you should add a portfolio commercial lender who offers fixed […]
Read More… from The Benefits of Fixed-Rate, Small-Balance Commercial Mortgages
If you’re a commercial mortgage broker who is used to closing loans with banks or other traditional lending sources, helping a client who doesn’t fit the mold can be difficult. However, non-conforming commercial mortgages and private hard money loans have become a big part of the industry since the Great Recession. In order to work […]
Read More… from Tips for Closing More Non-Conforming and Hard-Money Mortgages
When you begin working to refinance your borrower’s commercial mortgage, one of the first questions you should ask is how long they’ve owned the property. Most commercial lenders will need to know the length of ownership, so it’s important to know when your borrower purchased the building and how much they paid. This will help […]
Read More… from What Commercial Mortgage Brokers Need to Know About Loan Seasoning Requirements
When you’re working with non-bankable borrowers looking for commercial mortgages, you’re likely to hear some common objections when you first try to sell them on deals. Your borrowers might want to know why the rate is so high, why there is a prepayment penalty or why the appraisal costs so much. Here are some tried […]
Read More… from Broker Tips for Selling Commercial Non-Conforming Loans