Tips for Mortgage Brokers on submitting a deal for approval

Tips for Mortgage Brokers on submitting a deal for approval

Gelt loves working with mortgage brokers, and closing commercial and real estate investment mortgages, we do some creative and challenging deals and we love and take pride in the deep relationships we have built over the years with mortgage brokers.

Here are some tips for Mortgage Brokers submitting a successful commercial or investor mortgage to us for underwriting and approval:

 

  1. Submit a complete application and package. Everyone is busy and you want to make the deal as easy to approve as fast as possible. We all make money and closing so we want to close loans and have a simple, smooth process.
  2. Know the deal. Spend a few minutes learning the deal, try to anticipate what an underwriter would want to know.
  3. If you don’t know just tell us, it is much better to say I don’t know then try to guess or say something that’s not accurate.
  4. Learn your investors and lenders guidelines and what they like and don’t or like.
  5. Get a reputation for being on the ball and not a goof ball.
  6. Learn your borrower inside and out.
  7. Return calls and emails.
  8. Put your contact info on your email, make it was easy as possible to have good communications.
  9. Know that every deal is not a home run, its ok to hit singles and doubles. It’s ok to go for the singles and doubles.
  10. Learn the business and commit to being the best you can.
  11. Stay in constant contact with us, we fine the brokers who are on top of the deals and there is lots of communications are the deals that close. Be a part of the process.
  12. If you are in doubt if we will approve a deal, just call us and run the scenarios by us. We can usually tell you on the phone within a few minutes if we like the deal or not. With Gelt you talk directly to decision makers.
  13. We work with mortgage broker who are very experienced and some are brand new.

 

We are non-bank portfolio lenders who like storied loans. Hard Money and challenging deals is what we do, We don’t mind a story with past problems and challenges.

For information about being a mortgage broker with us contact us at info@geltfinancial.com

Call us anytime at 561-221-0900 and let’s do business together.

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