US Commercial What's been working??

[Stephanie P.]

Hey BP

As we come to a close on a very successful first half of 2018, I'd like to thank all of those folks that have contributed to the company's success.  Too many names to list here, but if you've gone through a scenario with one of our guys on the phone, on an email or on BP, know you've been part of our success and it's appreciated.

Here's why US Commercial is hitting the ball out of the park

• Clear communication

We put out clear and concise conditional loan approvals that lay out fees, rates and loan amounts.  Then we couple that with a Loan Summary and a Broker Fee Agreement.  Why??  Transparency and our quest for no surprises.  Surprises kill loans, reputations and relationships quicker than anything.  No surprises means you know everything up front so you, the consumer, can make an informed decision.  We have plenty of people that say no.  It's okay.  In our world, Tom Hopkins' old adage, it takes 9 no's to get to 1 yes is always in play.

• We know what we do and we know what we don't do and we'll let you know on the first conversation

We don't shy away from the fact that we don't do Fannie Mae or Freddie Mac or FHA or USDA or many other acronyms. Again, that's not what we do, but we always encourage our borrowers to go that route first. Sound strange to give business away? On the contrary. Those folks that can go conventional aren't our customers yet. Once they've exhausted any conventional financing options we will be glad to help.

• No income verification, etc...

There's a reason that folks can't go conventional.  Quite simply, either they don't qualify for myriad reasons or the property doesn't qualify because it's a non-warrantable condo.  Whatever the reason, often we can help.  

I quoted a lady 6.75% on a 30 year fixed with 1.5 points this morning. She had just purchased the property in March 2018, renovated it with hard money and wanted to pay back the HML as soon as possible. We are maxed at 75% ltv. No income verification, no seasoning on title and cash out using the new appraised value. Pretty strong I think.

Let me know if we can help you with your financing needs.

Happy investing and again, thanks for a great start to 2018

Stephanie