For borrowers who own or are looking to purchase a smaller office building, obtaining a commercial mortgage can sometimes be a challenge. However, there are lenders who specialize in small-balance commercial mortgages who have the expertise to finance these properties. If you’re a broker working with a borrower seeking a small-balance product, these lenders are […]
Read More… from Securing a Commercial Mortgage for your Borrower’s Office Building
For brokers looking to earn additional income, adding commercial mortgages to your product offerings is a great way to expand your business. Small-balance commercial mortgages in particular are a great way to get started in the industry. Before you begin looking for leads, though, it’s important to understand the differences between commercial mortgages and residential […]
Read More… from Three Ways Commercial Mortgages Differ from Residential Mortgages
“When did you purchase your property and what did you pay for it?” This is a crucial question that brokers handling commercial mortgages should always ask when their borrower is looking to refinance. Many lenders will need to know the length of ownership and the purchase price before they can begin the underwriting process, so […]
Read More… from Understanding Commercial Mortgage Seasoning Requirements
A major part of determining the size of a small-balance commercial mortgage is understanding the value of the property that your borrower plans to pledge as collateral. The best way to determine this value is through an appraisal report. Because they’re such crucial tools in the lending process, it’s important for brokers to understand a […]
Read More… from What Every Broker Should Know About Commercial Appraisals