Obtaining a commercial property loan today can be a rather stressful event even for a seasoned property investor. At Atlas Commercial Capital, there are two very important rules we follow that helps the process.
- Make sure that the initial loan submission has identified the 5 W’s: who, what, when, where and why. The data must be clear and concise. If not enough data is supplied, it will raise questions and cause the loan officer to reject or put the deal aside until time permits. These gate-keepers are busy these days so getting and staying on top of the deal pile is critical.
- Giving the loan officer a high confidence level that the loan will close. This is accomplished by making sure that: a) The requested loan is fitting within the lending guidelines b) The borrower profile is meeting current preferences and c) Everything requested is provided in a timely manner.
The best and simplest way to get the most positive results from lenders is to use a trusted intermediary like Atlas.
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Categorised in: Loan Submissions
This post was written by Kevin Meehan