Selecting the right
lender for your commercial real estateloans is never easy. But with a few key questions you can narrow down your
options and ultimately choose the right lender for you.
big deal. It’s a big deal because these particular kinds of loans are truly not
your everyday kind of loans. In other words, most lenders have ample experience
in residential loans as everyone needs a home. But, of course, not everyone
needs a business or an investment property and to each its own. Nevertheless,
the point is that the majority of big lenders are better versed in all things
residential. Therefore, it is your best
interest to find a lender that has a substantial amount of experience with commercial real estate loans.
you going find a lender that specializes or rather has the right amount of
commercial loans underneath their belt? The trick is to ask the right
questions. Asking the right questions may sound like a simple solution to
ensure the future financial security of your company or business venture, but,
the truth is it’s all in the details.
experience with commercial real estate loans, which is great. But, stop and ask yourself, does this lender know my
market. In other words, your potential
lender has extensive experience with commercial or rather non-residential
loans, but in what market? You see details, they matter. Thus, with that being
said, let’s go over a few more key questions that will help you find the right
lender for you and your specific market.
Narrow Down Your Lenders
Once you determine if there are lenders that have the right
experience in your particular market, it’s on to the tougher questions such as
how much capital does your potential lender have? This matters because you do not want to be
just another number to your lender i.e. you want a lender you can work with who
remembers your name and your business idea.
potential lender about their borrower requirements and commercial loan services
offered. Know what’s expected of you as a borrower (how much collateral do you
need, what’s the policy on late payments, etc.) and what you can expect of your
lender (Are revolving lines of credit available? Are there multiple locations
and are they FDIC insured? ) is what it’s all about. Moreover, if you like what
you hear you are that much closer to your future lender.
Risk Less with Commercial Real Estate
the best the position financial before you decide on a lender for your
non-residential loan. It may sound repetitive, but, for you to be seen as less
of a risk to your lender and for your commercial property to truly be
profitable for you, it helps to be financially stable or to have investors that
are financially stable.
Dennis Dahlberg Broker/RI/CEO/MLO
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701