While merchant cash advances might be workable, short-term solutions for some small business owners, many become overwhelmed by the ever-increasing interest rates they’re subjected to. This can lead to a cycle of payday loans, resulting in serious debt. If you’re a commercial mortgage broker who works with small business owners, it’s important to be aware […]
Read More… from Refinancing Your Commercial Borrower’s Merchant Cash Advance
For brokers looking to close small-balance commercial mortgages, time is money. So, it’s crucial that brokers don’t waste their time or their borrowers’ time on deals they won’t be able to place with a non-conforming commercial lender. Commercial mortgage brokers need to learn what makes a deal fundable and when to turn down certain deals. […]
Read More… from How Brokers Can Spot Great Commercial Mortgage Scenarios
A borrower’s collateral is one of the most important factors that a small-balance commercial mortgage lender considers when evaluating a request for financing. Because of this, it’s crucial for commercial mortgage brokers to gather as much information about the property and its uses before submitting the deal. Not only will this solidify your reputation as […]
Read More… from Describing Your Borrower’s Commercial Property to the Lender
When you’re working with a non-bankable borrower seeking financing for their commercial property, it’s important to understand and be able to account for any obstacles they’ve faced in the past. As the commercial mortgage broker, you’ll be sending your lender various pieces of information, such as a credit report or bank statements, that might not […]
Read More… from Helping Your Commercial Borrower Craft a Letter of Explanation
When a broker begins working with a small-balance commercial lender, their first point of contact is likely to be a mortgage account executive. The mortgage account executive’s job is to evaluate each deal a broker submits before sending it on to the underwriting department. Account executives are generally given incentives to close as many viable […]
Read More… from How Brokers Can Impress Commercial Mortgage Account Executives
Securing a small-balance commercial mortgage for a non-bankable borrower purchasing a warehouse building doesn’t have to be a challenge. There are non-conforming lenders who are willing to provide mortgages to borrowers looking to purchase or refinance warehouses. Before you contact your lender regarding a warehouse property, though, you should take the time to learn some […]
Closing small-balance commercial mortgages shouldn’t strike fear into your heart; you just need to know how to choose a reliable lender. Selecting the right lender is a crucial decision for any broker, and it’s important to be able to spot the lenders who will make closing these loans more difficult. In the spirit of Halloween, […]
Read More… from The Horror of Choosing the Wrong Commercial Mortgage Lender
As a commercial mortgage broker, it’s important for you to understand the types of loans available to your borrowers and for which each borrower is going to be able to qualify. A firm grasp of your borrower’s financial situation will allow you to determine if they’re likely to qualify for a conforming commercial mortgage or […]
Read More… from Commercial Conforming Mortgages vs. Commercial Non-Conforming Mortgages