commercial mortgage refinance

FAQ's

Why Should I Use A Commercial Mortgage Broker? A quality mortgage broker like us will help you navigate through all of the complexities that go along with trying to obtain a commercial loan. We know who the lenders are that want to finance or refinance your deal.

How Long Does It Take? There are a couple of time frames to consider. If your deal takes advatage of a stated income/asset commercial loan, then you may be looking at 45-60 days to closing. If your deal is a full doc, the time frame to anticipate will be 60 days up to 120 days, depending on the size of the deal and the processing that may be required.

Can I Work With Multiple Brokers On The Same Project? There is no law that says you can't. But it sure could screw things up down the road. Most commercial mortgage brokers work with the same lenders who provide the actual funding. If these lenders see your property comming in from several brokers. That is going to make you look bad and possible cause your deal not getting funded. Lenders will assume that no one is actually in control of the deal and are less likely to put their best efforts forward in such a distorted environment. Just work with us and we'll do everything we can to bring your loan to closing.

When Do I lock My Rate? Depending on the lender the answer will vary. Sometimes the rate will be lock within a couple of days from when your loan package was submitted. Or it could be 2, 3 or 4 weeks from when your application was accepted until we receive a commitment letter from the lender. This is when you'll be able to lock in the rate. Much different than residential mortgages.

How do Brokers get paid? Brokers can get paid in two ways. First we will pay brokers yield spread on a case by case basis per separate negotiated agreement. Second, brokers can charge the borrower up front points and collect that amount from the funds collected at closing. Typically, most of our brokers charge 2% of the loan balance being funded.

How do I get started? Simply submit us a deal today. Call us or use the online form. You should also download a our application complete it and send it to us. We will need the completed loan application before a loan can close.



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