Why you should work with Veritas Funding Scottsdale
The Advantages of working with Veritas Funding Scottsdale - A Direct Lender you can Trust
When you work with a direct lender for your commercial mortgage, you’ll be able to avoid a lot of the headaches that come with managing bank and broker connections. If traditional lenders have failed to provide you with a clear path to a funded loan, turn to a direct lender to avoid the headache entirely.
Buying or refinancing a commercial mortgage from a direct lender has a number of benefits. The key advantage is that you’ll be able to develop a relationship with the lender’s team of professionals. Once they have a better understanding of your financial situation, they will work with you one-on-one to determine the appropriate commercial mortgage program for you.
Learn the true benefits of a Direct Lender
Here are 5 additional benefits of working with a direct lender to secure your mortgage loan:
1. Flexibility
Working with direct lenders gives you more flexibility when it comes to qualifying for a loan even if your credit score isn’t as strong as a bank would want. Direct lenders also need little to no title seasoning and offer reduced documentation programs that appeal to small-business owners and investors with a common need for commercial mortgage financing.
Direct lenders aim to understand the individual needs of consumers before proposing a specific product or service. This ensures that you’ll get the most favorable terms for your commercial mortgage. If you have any questions or concerns, you can be confident that you’ll be communicating directly with the lender and not a third party.
2. Timeliness
Direct lenders typically only provide mortgage-related services, making them more specialized than banks, which normally provide a variety of services at once. This frees up more time for direct lenders to focus only on finalizing your loan, which can take as little as 30 days versus several months with a bank.
Furthermore, because most direct lenders handle and complete commercial loans in-house, the mortgage remains in one location throughout the process. It also entails precise and timely updates at every stage.
3. Save Money
In many cases, hiring a mortgage broker to assist you in obtaining a commercial mortgage is a wise decision. However, if you are a price-conscious shopper, you may want to avoid paying an origination fee and other additional fees while working with a broker.
For the loan to be processed, all lenders must charge specific fees and costs. Mortgage brokers, on the other hand, add to these charges in exchange for their services. Partnering with a broker and accepting the extra fees makes sense if you want access to a variety of loan options or if you’re too busy to do your own research. However, if you know exactly what type of loan you want, you can save money by working directly with a commercial lender.
4. Speed
A Direct Lender is a one-stop shop with major advantages, because when you work with a direct mortgage lender, you apply with the same company who will be documenting, approving, and funding your loan. Everything is typically processed in-house with a direct lender, and mistakes and computations are caught and calculated in the blink of an eye thanks to lightning-fast robotics and computerized procedures. This usually means a faster response than working with a broker that has little influence over your loan’s processing and distribution. Direct lenders can close loans in 60 percent less time than the industry average!
5. Rates
There is a common misconception that mortgage brokers and banks are able to offer better rates than direct lenders.This is not true. In fact, they’re probably more expensive than most other options. When opposed to brokers, direct lenders are able to provide competitive interest rates and low closing costs, which can have a significant influence on your monthly mortgage payment.When deciding between a mortgage broker and a lender, be sure to inquire about their closing charges. This single action might save you tens of thousands of dollars.
Bonus: Two Distinct Advantages
The benefits of working with a direct lender are many but two distinct advantages stand out:
- Competitive mortgage rates
- Quick turnaround time
Working with Veritas Funding Scottsdale
Veritas Funding Scottsdale is a direct lender that offers competitive pricing and flexible terms on loans from $200,000 to $2 million. Our team has closed and funded more than 36,000 people, and we specialize in working with business owners and investors to help them get the funding they need — fast and hassle-free. Run by branch manager Amir Zandifar, one of the most talented and experienced direct lenders and loan officers in the industry.
Connect with one of our mortgage loan officers today to find out more on how a digital direct lender like Veritas Funding — Scottsdale can better serve you.
