Understanding the type of mortgage your borrower needs and choosing the right lender for them is an important part of your success as a broker. Commercial borrowers come in all stripes, so it’s crucial for you to be able to evaluate their situation and to help them choose a lender and a loan that will fit their needs.
Below is a selection of some of our blogs dedicated to helping mortgage brokers learn more about portfolio lenders, small-balance commercial mortgages, and the benefits of fixed rates and fully amortizing terms.
Commercial Portfolio Lenders Are a Great Choice for Brokers
There are plenty of things for brokers to consider when choosing commercial mortgage lenders to work with. What kind of rates do they offer? What are their terms like? Are there upfront fees? These are all important questions, but there’s another that you should also be asking lenders: Do you securitize and sell off your loans or not? Those who don’t sell, known as portfolio lenders, afford brokers benefits when it comes to selling small-balance commercial mortgages to borrowers. Click here to learn more about the pros of working with a commercial mortgage lender that portfolios their loans.
The Benefits of Choosing an Experienced Commercial Mortgage Lender
These days, brokers working in the small-balance commercial mortgage niche have a number of options when it comes to lenders. The market is vibrant and growing, meaning plenty of new lenders are getting their start in the industry. However, if brokers are looking to succeed in the small-balance commercial niche for years to come, they should select an experienced lender. Click here to read about why this is the best option.
Finding The Right Commercial Mortgage For Your Borrower
Commercial mortgage brokers are likely to see a wide variety of borrowers looking for a wide variety of loan products. This will almost certainly include borrowers stuck between the bank and a hard place – that is, borrowers who don’t qualify for bank financing, but don’t want or need a short-term hard money loan. Maybe they’re even looking to refinance to pay off a hard money loan. For these borrowers, a non-conforming, small-balance commercial mortgage could be a great solution. So, how do you know if this type of mortgage is right for your borrower? Click here to learn more about how to find the right commercial mortgage for your borrower.
When is a Fixed and Fully Amortizing Commercial Mortgage Right for My Borrower?
A commercial mortgage broker’s primary job is to find financing that best fits the needs of their client. It’s important for brokers to be able to evaluate the needs of their borrowers and to determine the type of commercial mortgage that best suits those needs. For some commercial borrowers, a short-term loan that balloons after a few years will be the best solution. For many borrowers, though, a fixed and fully amortizing mortgage is the way to go. Click here to read about some benefits these borrowers can expect.