Who are the best lenders for my transaction?

[Tony Talamas]

The following info is based on my more than 10 years of experience as a direct lender and a commercial mortgage broker.

Lenders are incredibly bust – especially the competitive ones. If you don’t clearly explain your loan request – objectives, property history, challenges, risks, mitigants and more – you risk getting a quote different than what you requested; or quite possibly, no quote at all. If you’re reaching out to a lender new to you, there’s a good chance he/she may not respond if you don’t clearly explain your loan request. I’ve seen it numerous times and still continue to see loan requests cross my desk that don’t provide me with enough information to make a timely decision – costing a borrower delays in receiving a quote.

Additionally, how do you know you’re reaching out to the right lender for your transaction? There’s no “one size fits all” in lending.

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We're working to deliver the most comprehensive lender network available (compiled over the last several years) along with lender webinars, templates for the best loan submission packages and other resources to help you get more multifamily and commercial real estate mortgage quotes from as many lenders as possible.

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Identify and communicate directly with active multifamily and commercial real estate loan officers. Learn what they're looking for in a loan request. Learn to clearly and concisely present those details to lenders in a brief Credit Memorandum so that you can receive more loan quotes -- and close more loans!

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