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Commercial Loan Blog

September 04, 2015

Commercial Construction Loans (5 Key Steps for Success)

It's not easy to obtain a commercial construction loan. People who are successful have learned from experience these 5 critical steps. I have been doing commercial construction lending for 17 years. I have found that many deserving projects fail to produce a loan. This is simply because the developer has left out... more

August 18, 2015

What is Hard Money Commercial Lending? And how does it differ from traditional lending? Keep in mind that the term bridge loan is often used interchangeably with hard money loan.

Be sure to visit our website: www.bridgeloanstore.com to learn about our great commercial bridge loan products. You can discover how we are competitive when it comes to rates and terms.

Fairview  Commercial Lending (www.fairviewlending.com) gives the following definition: “The definition of a hard money, when referred to in real estate financing, is essentially a non-bankable... more

July 21, 2015

It’s simple – less moving parts. An analogy is the difference between the construction of a lawn mower engine and the construction of an automobile engine.

For example, let’s look at the difference between getting a loan for an apartment complex and a retail mall. For an apartment complex loan you have one borrower for the property. For the retail mall, let’s say that you have 35 tenants.

For the apartment complex, you just need to get the financial strength of the borrower. For the retail mall, you have to get the financial strength of all 35 tenants. It... more

July 15, 2015

There are big differences between commercial apartment properties and residential investment properties. You could say it’s somewhat like two different planets. People new to the commercial apartment world need to understand the differences before getting involved. Before we continue, it’s important to know that commercial apartment properties are also known as multifamily properties.

First, there is one particular key distinction to keep in mind. A residential investment property has 1 to 4 units. A commercial apartment property is defined as having 5 or more... more

June 21, 2015

In the previous blog, we covered some key characteristics of a commercial loan broker who does inferior work. This can include a direct lender too. In the blog were several negative characteristics to stay away from including: A commercial broker asking for upfront fees unless it was a project of great complexity – like a New York skyscraper, the lender refusing to give you some of his customers to talk to as references, and getting an inexperienced lender.

This week we include 4 more key characteristics of a poor commercial loan broker, or direct lender.

... more

June 17, 2015

In your quest for a commercial loan it is so important to know some key qualities of a Commercial Loan Broker to avoid:

  • The commercial loan broker asks for an upfront fee and your loan is not complex. If your loan is simple and you are being charged an upfront fee, it is quite likely that the commercial mortgage broker is not being honest. Yet, also keep in mind that if you have a commercial project such as a 100 story skyscraper in a major city, charging for an upfront fee may be OK. But, even then it’s essential that you conduct a background check on the... more
  • June 10, 2015

    Going for the lowest rate could be a good practice generally.  But, as we covered in the previous blog, there are quite a few lenders who quote a rate too low to hook you into working with them. Later on when you are well into the loan process, they give you a higher rate than originally quoted. They may tell you that rates have gone up, but the problem is they changed the rate artificially to try to get your business.

    This most recent past article also covered what you can do to help prevent this from happening.

    This week we are going to continue looking... more

    No.

    Why? Even though there are arguments lenders could give you that you should go with them because they are quoting you a low rate at the inception of the loan process – the low rate quite possibly is deceptive.

    A lender can quote you anything they want to quote you at the beginning of the loan process. Because you are not trained in commercial loans, whatever they quote you, you very well could believe.

    Let’s say for example that they quote you 4.25% for a 10 year fixed rate, 30 year amortized apartment loan purchase, but the problem is, at that rate they wouldn’t... more

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