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Educational articles for Commercial Mortgage Brokers

Common Sense Lending for Non-Bankable Borrowers

If you’re a broker, you know the importance of placing a borrower’s commercial mortgage scenario with the right lender. If your borrower is bankable, it’s as simple as finding a local bank to finance the request. If you’re working with non-bankable borrowers, though, it might seem more difficult to place these mortgages with a lender. It doesn’t have to be; all you need to do is find a lender who takes a common-sense approach to underwriting. Here’s how nontraditional lenders like APEX approach commercial mortgage scenarios:

  • The application:

    Sending in your borrower’s application for a small-balance commercial mortgage is simple. All we need is an application, such as a 1003, a credit report including trade lines and scores and a loan submission summary. Be sure to include information about any past financial issues your borrower has faced, details about the property itself and how your borrower plans to use the funds. Photos of the property are strongly encouraged.

  • The underwriting process:

    Once we have the necessary documents, our team begins the process of underwriting a small-balance commercial mortgage for your borrower. Unlike banks and other traditional funding sources, we will listen to our brokers and borrowers. As a nontraditional lender, we take a common-sense approach to underwriting and understand that your borrower is more than a credit score.

  • Closing the loan:

    While many lenders require brokers to handle some of the processing, we take care of everything. We order the appraisal, handle the title work and schedule the closing, leaving our brokers with plenty of time to focus on bringing in new business.

Non-traditional commercial lenders are a great alternative if your borrower doesn’t qualify for traditional financing. Lenders like APEX are willing to listen to your borrower’s story and work with them to craft a financing solution. We’re also committed to our brokers’ success and allowing them the time and freedom to drive in new business. If you’re interested in working with a commercial lender who takes a common-sense approach, contact APEX Mortgage and find out how we can help today.

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