Posted by Jordan Crouch on January 20, 2009
Peter Maclennan recently posted the blog post “Nine Questions to Ask a Commercial Lender“. While it is directed to mortgage brokers, it is good food for thought for anyone currently in commercial real estate.
- What are your minimum and maximum loan amounts?
- Do you have a geographical limitation?
- What property types do you prefer?
- How long does your average loan take to close? What is the shortest amount of time you have personally seen a deal close?
- What is your maximum loan-to-value ratio?
- What is your minimum debt-service coverage ratio?
- What information do you require from the borrower in a loan package?
- What is the best way to contact you if I have a deal?
- What loans are you the most competitive on?