Your time and efforts as a commercial mortgage broker are valuable. However, some commercial mortgage lenders don’t treat their brokers the way they should. For non-traditional lenders, brokers are a major source of commercial business, and at APEX we respect and appreciate our brokers. Here are some problems you won’t encounter when you bring us a loan scenario:
- Upfront fees and hidden costs: Many small-balance commercial lenders will charge your borrower upfront fees before helping them to get the financing they need. They might also pepper in extra costs which could come as an unwelcome surprise to your borrower on closing day. At APEX, the only cost your borrower will need to pay up front is the appraisal fee after the loan has reached conditional approval, and there are no hidden costs.
- Cookie-cutter lending: If your borrowers don’t fit the traditional mold, they’ll face issues when trying to obtain a loan with a bank and even some nontraditional lenders. APEX has an underwriting team willing to listen to your borrowers’ stories and to find solutions that work for unique situations.
- Lots of work: Small-balance commercial lenders often expect brokers to handle ordering the appraisal and title work, clearing any title issues and scheduling the closing. This is time-consuming and can impede finding new business. At APEX, we take care of the processing, leaving you with plenty of time to find more commercial deals.
- A long wait: If your borrower needs funds quickly, a bank loan is probably not the best option. Because of regulations, it takes much longer for banks to close commercial mortgages. APEX can get your borrowers the money the need in as little as three weeks.
At APEX, we keep things simple for the commercial mortgage brokers who work with us. You won’t have to deal with any upfront or hidden fees, mountains of processing work or a long wait. Our commercial loan underwriters will listen to your borrowers’ stories and will work to find lending solutions. We know that time is money, and we’re committed to helping our brokers earn their commissions while giving them the time and freedom to search for new business.