2A — November 23 - December 13, 2018 — M id A tlantic
Real Estate Journal
www.marejournal.com
M id A tlantic R eal E state J ournal Publisher, Conference Producer . .............Linda Christman AVP, Conference Producer ...........................Lea Christman Account Executive ........................................... Steve Kelley Account Executive ............................................. Kim Brunet Account Executive ........................................ Marisol Chase Account Executive .........................................Alyson Parker Senior Editor/Graphic Artist ..........................Karen Vachon Office Manager ...............................................Kerrin Devine Contributing Columnists: ..............................Lisa Cassidy, ecoImagine; Leonard C. Green, CPA, MBA, The Green Group; Emily Landgraf; John B. Wollenberg, CPA, JD, MBA, The Green Group Mid Atlantic R eal E state J ournal ~ Published Semi-Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 350 Lincoln St, Suite 1105, Hingham, MA 02043 USPS #22-358 | Vol. 30, Issue 23 Subscription rates: $99 - one year, $148 - 3 years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Phone: 781-740-2900 | Fax: 781-740-2929 www.marejournal.com The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
M id A tlantic Real Estate Journal
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Emily Landgraf
The Benefits of a Flexible Commercial Mortgage Lender I n order to be successful, it’s important for mort- gage brokers to work with a variety of lenders, including flexible lenders who specialize in small-balance commercial fi- nancing. While banks and other traditional funding sources are going to be important to your business, a small-balance commercial lender that offers flexibility will allow you to fund tougher deals and earn additional income. Here’s what to expect from a flexible lender: • A variety of programs: The first thing that you’ll need to look for if flexibility is an im- portant quality for your small- balance commercial lender to have is a number of different programs. You’ll likely be work- ing with borrowers who vary in terms of their credit history, the properties they’re looking to pledge as collateral and their financial situations. These bor- rowers will likely qualify for a variety of rates and terms, so it’s important for you to be able
to present the best financing option for each borrower. You need to work with a lender that offers a variety of programs that fit multiple types of com- mercial borrowers. • The willingness to listen to a borrower’s story: Another sign that a small-balance com- mercial mortgage lender is flexible is that they’re willing to take the time to get to know your borrower and their unique financial situation. These are lenders who understand the obstacles that small business owners face, and they’re will- ing to work with borrowers to resolve any issues in order to provide the best possible com-
mercial mortgage. • Underwriting on a case-by- case basis: While banks and other traditional lenders have strict guidelines that often lead to borrowers being reduced to their credit score, alternative commercial lenders underwrite each deal based on a variety of factors. These lenders under- stand that borrowers are more than a credit score, and that it’s possible to underwrite com- mercial mortgages for business owners whose credit histories aren’t spotless or who have faced other financial obstacles. • Adaptability: A side effect of flexibility in a small-balance continued on page 3A
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