If you’re a commercial mortgage broker working with non-bankable clients, finding them the small commercial mortgages they need can be difficult. However, there are small-balance commercial mortgage lenders willing to listen to your borrowers’ stories and do everything possible to help them obtain the financing they need.
For example, APEX Mortgage Corp. recently closed a loan for a borrower with an auto repair shop, and was able to do more than originally requested. Here’s what happened:
- The borrower faced multiple medical setbacks and, as a result, was unable to operate the business.
- Because of this, the borrower fell behind on taxes and incurred credit card debt. When APEX underwriters originally spoke with the borrower, they requested a small loan to pay off the taxes.
- We listened to the borrower’s story, reviewed the loan scenario and were able to offer additional funding to help pay off the credit card debt as well, saving the borrower nearly $3,000 a month.
When it comes to working with non-bankable borrowers looking for small commercial mortgages, it’s important to have lenders who are willing to listen to a borrower’s story. As a commercial mortgage broker, you’re going to want to work with lenders who will review all aspects of each loan request and help your borrower to obtain the best commercial mortgage possible. We can help; you just need to send a loan summary, an application and tri-merge credit report. APEX has been using common sense to underwrite small balance commercial mortgages for over 20 years; let us help your borrowers obtain the financing they need today.