Securing a US Commercial Mortgage
by Commercial Lifeline
What’s the most efficient way to secure a US Commercial Mortgage? Work
with a mortgage broker who specializes in this area. If you’ve ever applied
for a loan, you’re familiar with the mountain of paperwork you are required
to complete during the process. The lender takes the applicant’s information,
runs it thought their guidelines and formulas and after waiting many weeks,
a decision is made to either approve or deny the loan. If approved, the transaction
can proceed. If denied, the applicant has to begin the process all over again.
US commercial mortgage lenders use guidelines similar to those used when applying
for a residential loan. The applicant must provide a good reason for needing
the loan. The property must have an acceptable appraised value. The location
of the property is also considered. The credit history of the applicant, including
the financial condition of the business is thoroughly investigated. In addition,
commercial mortgages require significant collateral to secure the loan. This
can be in the form of business equipment or inventory, personal or other properties,
heavy machinery, or any asset with a significant value.
But even the most carefully prepared and well-documented commercial mortgage
applications can be declined. When this happens, the applicant has no other
choice than to start the tedious commercial mortgage loan approval process
over again. Weeks go by, opportunities are lost, and still the outcome remains
unknown. How many times do you want to go through this process?
Most applicants agree the correct answer is only once. The way to achieve
this goal is to work with an experienced and reputable US commercial mortgage
broker. A broker takes your one completed commercial mortgage application and
submits it to many different commercial lenders, all at the same time, which
greatly increases your chances of approval and saves you a considerable amount
A commercial mortgage broker works with these different lenders every day.
The broker knows what each lender looks for in an application and sends your
application to those with the best chances of approving your loan. This method
is highly targeted. And, brokers only get paid when they successfully match
applicant with lender. Their financial incentive is what motivates them. Best
of all, the lender pays the broker’s fees, not the applicant.
Working with a commercial mortgage broker costs you, the applicant, nothing.
Working with a broker frees up your time so you can get back to running your
business. Working with a broker greatly increases your chances of getting your
commercial loan approved fast. In fact, brokers often get approval from multiple
lenders which puts applicants in a great position to bargain better loan terms.
And best of all, brokers will handle these negotiations!
There are so many reasons why working with a US commercial mortgage broker
makes sense. Yet it’s amazing how many applicants don’t take advantage
of their services. You work hard at streamlining your business and cutting
your operating costs so why not streamline your commercial loan approval process?
For fast results, contact a US commercial mortgage broker today!
About the Author
Author:- Commercial Mortgage and Bridging Finance specialists
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