Long-Term Lending Partners: Who’s on Your List?

[Karen Smith]

Do you focus on building relationships with a few reliable lenders, or do you keep your list broad? I’m curious how others approach finding lenders for consistent funding opportunities. Any tips for building a solid list?

[Erik Estrada]

Quote from @Karen Smith:

Do you focus on building relationships with a few reliable lenders, or do you keep your list broad? I’m curious how others approach finding lenders for consistent funding opportunities. Any tips for building a solid list?

 Just work with a broker. I see it time and time where a borrower tries to save on points, they go direct and end up falling out. It is very hard for the average person to understand and keep track of the nuances of lending since guidelines, rates, leverage, change very often. 

What I see most common is borrowers calling thousands of lenders to see who will go the skinniest, only to end up not closing on the deal and paying the price. 

It's better to work with a trusted, reliable, broker that does this day in and day out for a living than to go at it alone and take an unnecessary risk.