Why do I need a commercial mortgage broker? I can just go to the banks myself!
For the most part, seasoned real estate investors have long standing relationships with their bankers and don't need help with a refinance or a loan commitment for a new multifamily property. However, an experienced mortgage consultant usually has a few tricks up his sleeve that even the most knowledgeable real estate players don't.
1. An "in" with a decision maker at a local bank. Small local banks are often overlooked as a source of construction financing. A successful mortgage broker doesn't just forward your loan application to a loan officer. He calls the loan officer's director on their cell phone. And because smaller banks don't have a bloated bureaucracy your loan will close faster. Much faster.
2. Offloading work. A professional broker will do all the legwork and negotiating. Real estate professionals have enough to worry about. Approvals? Zoning? Plans? Financing should not be in the mix.
3. Knowledge of every lender's approach to credit risk. This is crucial when presenting a loan application to a bank. What one bank will overlook, will be a glaring red flag for another.
Dimension Equities has a ten year track record of success in arranging financing for its clients. We particularly excel in "hard to do" deals and specialty financing. Give us a call to start a relationship.