Passing up on small-balance commercial mortgage requests is passing up on money; it’s as simple as that. Many residential and large-balance commercial brokers mistakenly think that these loans are not worth their time or that they will be too much effort to close.
However, closing small-balance commercial mortgages with a lender like APEX is a fast, easy process. Here’s what you can expect:
Low-doc loan submissions:
In order to review a loan submission, lenders like APEX don’t need much in the way of documentation. To submit a deal, all you need to do is send us a completed 1003 or commercial application, a credit report (preferably tri-merge), a summary of the loan request including use of proceeds and photos of the property.
At APEX, we take the time to understand each of the deals our brokers send to us. We know that many small-business owners face various obstacles trying to obtain traditional financing, and we work with them to provide the best possible solution.
The team at APEX knows that you need time to focus on your primary brokering business, which is why we handle all of the processing on the small-balance deals you send us. We take care of ordering the appraisal and title work and we schedule the closing. All you need to do is collect your check once the loan closes.
The small-balance commercial mortgage industry is less regulated than residential and large-balance commercial, so it’s easy for brokers to earn more. For example, APEX will allow you to charge up to 5 points, plus 2 YSP.
While it might not be your primary focus, closing the small-balance commercial mortgages that come across your desk is a fast and easy way to earn additional income. With our low-doc submission requirements, common-sense approach to underwriting each deal, speedy processing and higher commission rates, APEX Mortgage makes commercial simple.