A handful of borrowers are looking for more than just a trusting relationship when it comes to choosing commercial lenders. The whole lending process, from the start of the application to the very last day of closing, has become more of an interview process, with a lot of competition!
Since there are a number of commercial lenders that borrowers can choose from, this is leading to borrowers becoming more and more picky when choosing the right lender to help them with their finances. Borrowers have always wanted to get the best deal or at least a fair price along with reasonable terms, but they are looking at a lot of other variables besides just the best deal.
Being able to have a variety of customizable options plays a big role when it comes to borrowers picking the right lender for them. A one-size fits all plan obviously doesn’t work for every company, and they know this! This then leads to them wanting to see more specific options that will help them reach their business goals. This is where the top lenders come in and will be able to sit and listen to the needs of their borrowers. They are there to give them the best advice and options that suit their business goals.
When it comes to dealing with commercial lenders, the response time is always crucial. We live in a very fast-paced business environment, where technology is at the top of our fingers and constantly changing. Of course, there is going to be various response times, like when it comes to proposal delivery time to the time it takes to deliver all of the closing documents. If a lender can accomplish these steps in a timely and quick manner, then they will stand out from the other lenders.
The trust and dependability of commercial lenders are always benefits that every borrower looks for
Whenever you are dealing with someone and your finances, you want to make sure you establish plenty of trust early on along with dependability. This makes for a strong relationship and even the possibility of a lasting relationship with commercial lenders. Even when the news isn’t always the best, lenders need to be up front and honest with their customers, which in return will earn their respect. It is valuable to find someone you can communicate openly with about your financial decisions.
Commercial lenders need to be the real deal to stand out from all of the other lending competition
Borrowers are looking for relaxed credit terms and low prices, but they take many other factors into consideration when choosing the right lender to deal with. Variables like having options, a fast response time and building a trusting relationship are just as important to borrowers as finding a good deal.
Dennis Dahlberg
Broker/RI/CEO/MLO
Level 4 Funding LLC Private Hard Money Lender
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.
Technorati Tags: commercial loans,commercial lending,commercial mortgage