When it comes to looking for commercial real estate lending options, there are two main ways to go forward:
Both have their pros and cons, so it can be tough to decide which is the best option for you. In this blog post, we will break down the advantages and disadvantages of using each one so that you can make an informed decision. We are a direct lender on some deals, and a mortgage broker on other deals, so we’ve got the facts!
A direct lender is a financial institution or private entity that can approve and finance loans in their own name. A mortgage broker is an agent, working on your behalf, who helps you obtain the best loan for you from a variety of lenders.
The pros of using a direct lender are:
The cons of using a direct lender are:
The pros of using a mortgage broker are:
The cons of using a mortgage broker are:
So, which is the best option for you?
That depends on your needs and what you are looking for. If you are comfortable with the idea of dealing with directly with a lender and you have a good understanding of what they offer, then go for it. If you want more options and someone to help you through the loan process, a mortgage broker is your best bet.
Whichever way you go, make sure to do your research so that you know what to expect.
ABOUT US: Castle Commercial Capital is a nationwide commercial mortgage lender for real estate investors and business owners located in Southfield, Michigan. We specialize in bridge loans for FAST CLOSINGS, long-term rental loans for PERMANENT FINANCING, and SBA financing for business owners looking to grow their business.
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