As 2013 comes to a close, it’s time to start thinking about how you can up your game as a small commercial mortgage broker in the New Year. The end of the year is a great time to look back and evaluate your current marketing efforts and to plan a strategy for 2014. Here are […]
Read More… from Four Ways to Improve Your Small Commercial Mortgage Broker Business in 2014
A small commercial mortgage lender takes plenty of details into account before deciding on the loan-to-value (LTV) percentage they’re willing to offer a borrower. The LTV is the ratio of the loan amount to the value of the property, and it is determined by the borrower and the property. Here are the factors of a […]
Read More… from Factors Considered By A Small Commercial Mortgage Lender When Determining LTV
When working with small commercial mortgage loans, it’s important to manage your time wisely, be up front with your lenders and borrowers, and properly prepare your borrowers for the lending process. It all comes down to having a few open and honest conversations with your lender and your client. Following the advice below will help […]
Read More… from Managing the Small Commercial Mortgage Process
Any small commercial mortgage lender is going to want to make sure its borrowers can repay their loans. When considering financing for an investment property, lenders will calculate the debt service coverage ratio (DSCR) in order to determine whether borrowers can make their monthly payments. It’s a simple equation, and it will give you a […]
Finding a small commercial mortgage for your borrower is tough enough without the added inconvenience of waiting around for a lender. Some small commercial lenders really take their time when it comes to approving loans, underwriting files, and closing deals. If you need to get your borrower financing but don’t have much time, here are […]
Read More… from Does Your Small Commercial Lender Make You Wait?
A non-bankable borrower comes to you with a request for commercial financing. As a broker, you get the process started by completing a 1003 or personal financial statement with the borrower and pulling a tri-merge credit report. This will give you most of the important information a lender needs, but there are a few questions […]
Working as a broker poses a unique set of challenges which can be very frustrating. As a broker, you have to deal with a lender’s origination fees, clients who may not like the idea of working with a middle man, and a lingering stigma against brokers since the financial collapse of 2008. There is a […]
Read More… from Top 5 Advantages of Being a Correspondent Lender
As a broker, it’s your goal to get your clients the financing they need. However, there’s some work that needs to be done before you can seal the deal with a lender. Here are some tips for brokers on how to gather the information you need and present it to the lender in such a […]
Mortgage brokers have plenty of places to look when interested in beginning a relationship with referral sources. There are many lawyers, accountants, real estate agents and other professionals who have clients looking to obtain financing. However, it’s important to remember that it takes work to create and sustain a relationship with a referral source. You […]
Read More… from 7 Keys to Successful Mortgage Referral Relationships
There are many ways to develop business relationships from your office, such as phone calls, emails, and social media posts. However, it’s a good idea to host the occasional networking event for your clients and experience some face-to-face interaction with the people you do business with. An important component of these networking events is often […]