Commercial Mortgages - Frequently Asked Questions

Why Use A Mortgage Broker?

A top quality commercial mortgage broker can help you navigate through the ever changing mortgage market and help you to identify and target the best opportunities. This can easily save you much more than the broker's fee. As a result of being "in the trenches" every single day of every single week, a good broker is at the cutting edge of what is being offered, of how far the envelope can be pushed, as well as the specific language beneficial to the borrower that has been successfully negotiated on other transactions, etc.

Utilizing a good commercial mortgage broker allows you to tap in to a high level of expertise and experience that can help you to best achieve your goals.

How Long Does The Loan Process Usually Take?

The typical residential mortgage takes around 45 days to close while the commercial loan process is more complicated and usually takes around 60 days from start to finish.

How do I take equity out of my existing home for personal reasons? Are there any restrictions?

Provided you have a minimum of 25% equity in your house (based on a current appraisal on your property), we may be able to renegotiate your mortgage so you can take out equity to buy a new car, home renovations, etc. Some restrictions apply.

What should I expect after I submit my loan application?

Once you submit the application, your loan will immediately begin the underwriting process. In most cases SBLexpress.com will deliver your credit decision within 24 hours. Meanwhile your loan consultant will contact you within one hour to answer any questions.