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Commercial Loan Blog

September 19, 2014

Apartment financing is similar but also quite different to taking out a loan on a residential home. Any property with more than five units is considered commercial with its own underwriting and funding criteria. Here is what you need to know before applying for apartment financing.

Since what is known as the great recession of 2008, commercial apartment financing is similar to home loan financing in that the financial strength and credit of the borrower is the most important. Prior to the recession the quality of the property's income and the quality of the... more

September 17, 2014

Last week’s blog had Part 1 on How to Submit Your Loan Information for an Apartment Loan. It started out with explaining that the process involves more than just sending in some information as if you were completing a form. It actually involves sending in information for a presentation. The file you send in has a major purpose of selling a lender on why they should want to give you a loan on your property.

In last week’s article Part 1, we covered the area of sending in good interior and exterior photos of your property – photos that honestly represent your... more

September 12, 2014

If you want to become a landlord, you need to understand the concept of apartment building mortgages. These are commercial real estate investments that generate rental income for the proprietor. To get the lowest rate apartment loans, here is some essential information that every investor should know.

Commercial real estate mortgages are either offered as adjustable or fixed rate of interest. The fixed rate option is considered more beneficial as rates are still historically low.   However adjustable rates are also historically very low tied into the 30 day... more

September 09, 2014

Some investors think that when they submit their loan information on a property for a multifamily loan, it’s just about getting the information submitted and that’s it.

Nothing could be further from the truth. When you submit information on the property and information on your finances, it needs to be prepared by you in a way that makes for an attractive presentation.

The commercial loan brokers in a commercial loan company have to sell your file to a prospective lender. The file has to be presented in such a way that it is attractive to the lender... more

September 05, 2014

Apartment loan rates for properties that have five units or more are going to run about one percent higher than conventional rates on single family properties. A potential buyer will first need to determine the kind of funding that might be available. The best programs today are usually obtained from what is called agency loans – Fannie Mae, Freddie Mac, and FHA. Many institutions provide financing for real estate investors, but some offer better apartment loan rates than others. You should also check with mortgage brokers that specialize in commercial real estate... more

August 19, 2014

It takes putting the customer in your mind’s eye as the most important part of your business. Yes, the customer comes first when it comes to running a multifamily loan business and commercial loan business.

Our attitude needs to be, “How can it be any other way?” Either you are for the customer or you are not, because if you are compromising your customer service, you are not very much for the customer. At ApartmentLoanStore.com, a division of Business Loan Store, we are very proud of our A+ Better Business Bureau rating.

One thing we do to show great... more

August 13, 2014

One of the questions you will be asked in inquiring about getting an apartment loan is how much experience you have in apartment complex ownership. For many types of situations involving multifamily loans, you are required to have experience in multifamily ownership. In some multifamily loan situations you are not required to have experience in multifamily ownership.

First, it’s important to know what the definition of “experience” is in multifamily property ownership. The definition is that you currently own one or more multifamily properties of 5 or more... more

August 5, 2014

The answer is no. Why?

  • Dishonest loan source representatives will give you a lower rate to hook you in to work with them. If they cannot honor that rate, they will say, “Well, rates went up.” They will think you don’t know the difference and bank on their dishonesty at your expense.
  • Also, when you find one dishonesty in a loan source representative, other dishonesties tend to be connected like strong magnets clung together. Thus, the dishonest loan source representative in the above example may also not deliver on the promise to get... more

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