Commercial mortgage brokers will likely see more opportunity to refinance ballooning loans as loans made during the lending boom mature, according to a Bloomberg report. In 2017, $90 billion in maturing commercial mortgages will come due, and the report indicates that rising interest rates and regulatory constraints will make it difficult for some borrowers to find the financing to pay off these loans.
This is where you come in. Some of these borrowers will be unable to obtain bank loans, and will need to seek out alternative commercial financing. As a commercial mortgage broker, you need to sell your services and let potential borrowers know that you can help them find the funds they need to pay off these loans.
Here’s how APEX can help you attract commercial mortgage business and help you earn more income:
At APEX Mortgage, we offer fixed rates and fully-amortizing loans up to 25 years. Your borrower won’t need to worry about paying off a ballooning mortgage, and we don’t sell our mortgages, so your borrower will be in capable hands throughout the life of their loan.
No upfront fees:
There are many lenders who charge fees before they even begin underwriting your borrower’s deal. We don’t charge any upfront fees to your borrower, and the only cost they will need to pay before closing is the appraisal fee.
Quick turnaround time:
When a mortgage balloons, borrowers generally don’t have much time to find alternative financing. We understand this, and our common-sense approach to underwriting allows your borrower’s deal to close more quickly.
In addition to the benefits listed above that make each APEX deal easier to sell to your borrowers, brokers also have the ability to charge up to 5 points plus 2 YSP on each deal.
As the last wave of pre-recession commercial mortgages come due this year, it’s important for brokers to be aware of the opportunity this presents. Helping these borrowers to obtain the financing they need not only betters their situation, it improves yours.