Lending tip: When procuring a loan...never do this

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When engaging with a lender of choice never commit to a loan deposit if the loan still needs to be approved by loan committee.

Until loan is accepted by loan committee you are simply no more than just prequalified by a sales person. The term sheet is not binding for the lender. Your deposit commits you to that lender even if the terms change.

Commercial loans are all about relationships. With rare exceptions, no one else has "loan committees" but commercial, and maybe HML if they are handing out fancy titles.

I wouldn't suggest finding a commercial mortgage by asking other commercial property owners their rate and calling whoever has the lowest. I would strongly suggest asking other commercial property owners about how productive their relationship is, and calling the winner of THAT competition.