If you own or operate a business or you are a real estate investor, then at some point you will likely be shopping around for a commercial mortgage. Working with a mortgage broker can give you several advantages over working with a traditional lender like a bank because a mortgage broker has the ability to shop around on your behalf to help you find the best rates and terms for your company – and that just makes good business sense!
But how do you know which mortgage broker to choose when you want to apply for a commercial mortgage?
There are several factors you should consider:
- Choose a mortgage broker that specializes in commercial mortgages. Commercial mortgages are not only usually much larger than residential ones, but they also tend to be much more complex. It is important therefore to work with a broker who has expertise in this area.
- Ask for testimonials. Don’t simply take a broker’s word for it that they can provide you with a commercial mortgage that suits your needs. Ask to see testimonials from other satisfied business clients. This will speak volumes to the broker’s ability to find the right lender and commercial mortgage for you.
- Gauge their communication skills. Depending on your business and the type of commercial mortgage that you are applying for, negotiating terms and the approval process can take time. It is important therefore to work with a mortgage broker that has good communication skills and that will keep you apprised of their progress. This can be crucially important to the running of your business.
When you are investing in commercial real estate, it is important to know that you are working with a mortgage broker that has a high level of expertise in this area and who is not going to drop the ball. As a business owner or real estate investor, you’ve got enough on your plate without having to worry about whether your broker is doing their job.
If you would like to speak to one of the highly qualified commercial mortgage brokers at Akal Mortgages, then give us a call today at (416)-621-1300. We specialize in helping businesses in a variety of industries get the capital they need.
When we say YES! We stand behind our promise.®™