At APEX, our focus has always been providing small-balance commercial mortgages to small business owners and commercial property owners who cannot obtain traditional financing. As an expert in this niche, and a small business located in Horsham, PA ourselves, our team understands the unique challenges some borrowers face when requesting a loan.
For brokers looking to add more deals to their pipelines and earn more money, alternative commercial mortgages are a great place to start. When brokers work with the right lender and know how to find potential borrowers, it’s a simple and fast way to close more loans. Click here to learn how to spot borrowers who need alternative commercial mortgages.
Getting To Know Your Commercial Mortgage Borrower
Brokers looking to close small-balance commercial mortgages need to get to know their borrowers, their borrowers’ businesses, and their financial situations. Not only will this help mortgage brokers to build a good relationship with each of their clients, but it will also allow them to determine what kind of loan borrowers will qualify for and the type of lender who can fund their request. Click here to read some tips about how brokers can get to know their borrowers.
How to Handle a Commercial Borrower with Credit Problems
There are plenty of small business owners with less-than-stellar credit who still need to obtain financing. The job of a commercial mortgage broker is to find these non-bankable borrowers a lender that understands their unique set of challenges and can fund their mortgage request. To accomplish this, brokers need to be prepared to prove that their borrower’s credit issues are in the past and that they can handle taking on new debt. Click here to read about the questions brokers need to ask when working on a borrower’s credit explanation.
How to Handle a Commercial Borrower’s Bank Turndown
Being turned down for a commercial bank loan can feel like the end of the road for a borrower. It is a broker’s your job to let them know that they have other options and to find a lender and a commercial mortgage that best fits their needs. Click here to learn how to proceed when a client gets turned down by a bank.