How to find commercial MFA mortgage brokers - cross state lines?

4 Replies

Hi All,

I'm in contract on a building and looking to find a broker - please do not contact me directly or post contact information here.  I'm just wondering how can i search and find brokers that can help me in my semi-unique criteria.

criteria - I am out of state from the property and it is a MFA.  property is located in chicagoland and I am in northern california.

What kind of mortgage brokers support this?

Thanks

@Matthew Rosenthal , so long as you have a satisfactory true answer to: "And when, within 60 days of closing, can we expect to be able to visit you there and see all your stuff installed?", then I would have thought - any chicagoland Broker!

Updated 9 months ago

Edit: Oops, I must be dyslexic - I saw your post as "FHA mortgage brokers". Sorry about that.

I'm not a mortgage broker and am not getting kick backs or anything, but if you decide you want a name let me know. I like the guy I've used many times in the past for my personal home refi and HELOC. You could ask him the questions about your "semi-uniquie criteria".

@Matthew Rosenthal I am a little biased seeing that I am a multifamily mortgage broker at CBRE in Chicago, but I would suggest looking for someone at one of the top shops who specializes in multifamily and works for one of the Freddie Mac SBL licensed preferred lenders. That will save you some money on broker fees if you end up going with a Freddie SBL loan. You can find the list of Freddie SBL preferred lenders on their website. If your property fits in the guidelines for the SBL program I would highly suggest looking into it or talking with whom you decide to work with about the program.  It a very compelling program in terms of benefits.  PM me if you would like to discuss any further.

@Matthew Rosenthal Any decent broker should be able to get this done for you. There are many out of state investors buying up properties in Chicago and I haven't heard of anyone having a problem just because they were out of state. Tom Keating is right about the Freddie SBL program. I have used their small balance loans and we have many clients that love them. If your deal is smaller, you might want to check out some local banks that have a presence in the area that you are buying in. Good Luck!

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