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At Commercial Funding Now, we work with Brokers all of the time!
As a Broker, you stay in control and in contact with your borrower's, and we work behind the scenes - making you look good!
We'll even offer compensation!
For general commercial, it takes experience to be able to ask the right questions to determine whether or not you even have a viable deal. For starters, borrowers must have at least 10% of their own funds for a purchase, 20% equity for a refi - minimum loan amount is 500k+ EXCEPT for our outstanding church programs which we can offer a true no-money down solution for. We can also offer an outstanding program on Eastern US seaboard to 105%!
However, if a borrower does not have a minimum 10% liquidity available, we aren't interested in even wasting our time - and suggest that you should consider this a wise guideline as well.
Please click here to access a helpful doc if you have any requests that fall into the above parameters - this will assist you in getting the right information. CFN Borrower questionaire to Broker.pdf
Why work with us? When partnering with CFN, you instantly gain the ability to originate deals anywhere in The United States!
Our Team of Experienced Professionals Will Process, Underwrite, Close, And Fund Your Deals For You.
Our Parallel Processing System Means Your Deals Close Faster. No More Sixty Day Closings!!
5 Tips For Getting Commercial Deals NOW!
1. Go through your old 1003's. Those schedules of real estate owned are GOLDMINES!
2. Go with what you know. Whether you rely on mailers or a webpage; get the word out there that you now offer commercial products.
3. Have you ever dealt with a self-employed borrower? We have programs for 100% owner-occupied self-employed borrowers; automotive, retail, office, light industrial, and more...
4. Contact local banks. Make contact with the loan officers within the branch (they may have given you a residential lead in the past) and inform them of the options you now have for the commercial files they simply turn away.
5. Think Small. Find a street in your town with mixed-use and commercial properties and simply start there. It's cheap and effective; try it for a day!
What are our rates and fee's?
We don't discuss rates until we have a clear understanding of a deal, which means that at a minimum, we review a 1003, credit report, and digital pictures of the property. An executive summary and/or a rent roll is also helpful, depending on the loan request. Trying to quote rates too early in a commercial deal would be akin to a surgeon cutting you open without having seen an x-ray. You can let your borrower's know that we will get them the very best rates and terms available for their own, unique deal. Unlike residential or traditional commercial lender's, we have no grid's or boxes as we have so many different products to offer!
And, basically, if we can't get your deal done - it can't be done...
It all seems so confusing, where should I start?
Our program for churches is outstanding with financing to 105% (cltv) for more info - click here!, and for commercial hard-money we can offer structuring to 90% - which, is unheard of and way "out of the box"!
Also, we have a no-doc solution with our terrific Stock Loan program that PAYS YSP! You can learn more about that by clicking here!
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