You have a decision to make about financing the purchase of a commercial property. Will you try to manage using your own resources or secure some type of mortgage? The latter is an approach that often works better than tying all of your money up in the project.
How will you find the right approach to financing? This is where one of the Clover Commercial Mortgage brokers can help. Why should you go through a broker? Consider these reasons and it won’t take long to see why this is a smart move.
Connections With Multiple Lenders
Brokers with several different lenders. When a client approaches the broker about any type of financing, it’s easy enough to identify which lenders are most likely to be interested in doing business with the applicant. Thanks to the information that the broker collects on the front end, it’s possible to focus the search on options that are most likely to lead to an approval.
Options for Loan Structuring
There’s more than one way to structure a commercial mortgage loan. You can bet that the broker will know which lenders would be willing to set up a payment schedule that works for you. Everything from the amount of each installment to when they become due can be worked out early on.
This means if you need something other than monthly installment payments, the broker can match you with a lender who offers quarterly or even semi-annual payments. The goal is to make sure that you’re happy with the loan structure and that the arrangement is also beneficial for the lender.
The Chance to Compare Rates and Terms Easily
By working with a broker, it’s easy enough to apply with more than one lender at a time. You can see who offers the best in terms of the interest rate, how the rate is applied to the balance that you borrow, what up-front fees you’ll need to pay, and any recurring fees that may be assessed during the life of the loan. This makes it all the easier to project how much you will pay for the financing from the beginning all the way through to remitting the final payment.
Someone Who Works Hard to Find the Right Match
When you work with one of the Toronto Clover Mortgage brokers, rest assured the professional will work hard to find the ideal match for you. One of the reasons for all the hard work is to ensure that you do come back when you need financing in the future. Another has to do with the value of word-of-mouth advertising; if you’re happy with the way things go, it’s much more likely that you will pass the broker’s name on to others when they need financing of some type.
The bottom line is that choosing to work with a commercial mortgage broker offers all sorts of possibilities. Rather than spending the time and effort to find potential lenders on your own, call a broker today and schedule an appointment. Once the broker is on the job, it won’t be long until you have an offer to review and possibly accept.