4 Tips for Choosing a Commercial Mortgage Company

May 22, 2023 by Lending Bankers

If you are shopping for commercial real estate in Miami, then you need to find a mortgage company to work with that will make the lending process fast and easy and connect you with a competitive loan. Here are a few suggestions to help you pick the right company.

Choosing a Commercial Mortgage Company: Some Advice

Go local. While there are plenty of nationwide commercial lenders, they do not know the market as well as a local Miami mortgage company. A company that is locally based can help you navigate the challenges you may face that are specific to the FL real estate market to quickly close on your ideal property.
Work with a company experienced with the type of financing you need. Commercial lending in general requires expertise that residential lenders may lack. Not only that, but sometimes commercial lending requirements are really specific. Say, for example, that you need energy financing or aviation financing. The reality is that most mortgage companies just are not going to know how to handle that. Find a company that has experience with loans for businesses in your industry.
Choose a mortgage broker in FL, rather than a lender. When you work with a mortgage broker, they will shop around on your behalf to find you the most competitive loan offers. If you work directly with lenders, you have to shop around, which takes a lot more time and effort.
Investigate the loan process. It can be helpful to familiarize yourself with the underwriting process and the steps involved in applying for a mortgage through a particular broker. Make sure that process is a fit for your business.

Buy Commercial Real Estate in Florida Now

Lending Bankers Mortgage specializes in commercial loans, including aviation loans, energy loans, vacant land loans, international loans, retail and office loans, multi-family loans and more. As a local Miami mortgage broker, we have established relationships with lenders throughout the area. To schedule your consultation, please call us today at (786) 220-1100. We can help you buy commercial real estate in Miami or elsewhere in Florida.

How Do You Know if Refinancing is Worth It?

April 28, 2023 by Lending Bankers

If you are thinking about refinancing your mortgage, you know that you need to weigh the potential costs against the possible benefits. But how do you figure out if the benefits are likely to outweigh the costs?Although making a determination may seem complicated, in truth, it just comes down to doing some simple math.

Know the Following About Refinancing

The amount of your existing mortgage
The interest rate for your existing mortgage
The loan term for your existing mortgage
The time left to pay on your existing mortgage
The interest rate for the new mortgage after you refinance
The loan amount for the new mortgage
The loan term for the new mortgage

Once you have that information, you should be able to calculate how much a refinance could potentially help you save.

In fact, to make this math as easy as possible for you, we have put a simple refinancing calculator right on our website. Once you fill in your numbers and click “Calculate,” the calculator will tell you how the monthly payment will compare for the new mortgage versus your existing one, and provide you estimates of the total cost for each.

One more factor you need to consider is the cost of the refinance itself. You will need to subtract that from the amount you calculate you could save after switching to the new mortgage. If the refinance still looks like it will save you money once you subtract that cost, then it makes financial sense to move forward.

Refinance in Florida Now

If you still need help calculating whether you could save money by refinancing, we can walk you through the math. We make the application process fast and easy so you can start saving as soon as possible. Please call 786-220-1100 to begin.

FHA MIP Decreased Along with Certain VA Funding Fees

March 21, 2023 by Lending Bankers

Homebuyers who will be applying for FHA or VA loans will be pleased to learn that MIP and certain funding fees have been decreased for each of them respectively.

FHA MIP is Reducing

As of March 20^th, 2023, monthly mortgage insurance premiums (MIP) are decreasing by 30 bps.

The savings for around 850,000 borrowers over the next year are estimated to add up to around $678 million combined.

According to HUD, “For the same borrower with a mortgage of $467,700 – the national median home price as of December 2022 – FHA’s annual MIP reduction will save them more than $1,400 in the first year of their mortgage. In addition to providing overall savings to borrowers, a lower annual MIP can also help more people qualify for a mortgage.”

Certain VA Funding Fees are Decreasing

Borrowers looking to apply for VA mortgages will be pleased to know that funding fees are decreasing for mortgages that close on or after April 7^th, 2023 and before November 14^th, 2031. You can find out more in the chart below.

The reduced funding fees only are for buying a home or building one using a VA loan, not for refinancing. They also are only available when putting 5% or more down with a VA mortgage.

Apply Now for a VA or FHA Loan in Florida

If you have questions about the reductions to FHA MIP and certain VA funding fees, we can answer them during your consultation for a home loan. If you are ready to apply for an FHA or VA mortgage now in Miami or anywhere in FL, please give us a call today at (786) 220-1100. We are excited to help you move affordably into your new home.

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Graciela Rodriguez

23:40 20 Apr 23

Durante todo el proceso, desde la evaluación inicial del caso hasta el cierre final, el apoyo recibido ha sido excelente. El trato ha sido profesional, siempre presentes para aclarar las dudas y obtener la guía necesaria para reunir con éxito los recaudos necesarios. Definitivamente Nathaly y Gabriel son los mejores en el área, altamente recomendados!

Melissa Alvarez

14:35 01 Apr 23

Strong follow from the beginning with Danny Peréz was our agent plus David Otero focus in the other points on the transaction. Looking for to our next property deal. Thanks guys !

Luke Ferguson

23:43 31 Mar 23

Danny has done a brilliant job. Hard working, always available and super efficient. Great experience and made the whole process super easy. Would reccomend!

Mark Pugliese

23:47 28 Mar 23

Was a great experience working with Danny Perez.Everything went super smooth and I do not have any complaint.I would completely recommend working with Lending Bankers after my experience with Danny. Hope to work with you again in the near future.Thank you for making this an easy closing!Extremely happy !

Cheri Surloff

20:29 28 Mar 23

Working with Danny Perez was the best thing i could ever done. I am a widow and I was left to manage multiple properties when I lost my husband I had to use hard money lenders and my portfolio was really being drained by unfavorable loans. Danny perez fought to understand and manage ever aspect of my portfolio. I would text him at 5 am in the morning and on weekends he relentlessly facilitated my new mortgages. He is a man who lives by his word and fought to get me the lowest rates and safest mortgages as a family member would.I can’t speak highly enough about him. There are few lenders who would work the long and tedious tasks that he endured to help me.I hope one day I can repay him He is incredible in passion and his expertise is beyond any executive mortgage brokerCheri Surloff Phd Psyd

leslie rance

20:15 28 Mar 23

We had a great experience working with Danny Perez.He is very experienced in the negotiations and very meticulous with his paperwork.He can be reached 24/7 and never gives up until he has reached his goal. I look forward to working with Danny on many more investments.Absolute professional in everyway.RegardsLes. RANCE

Mauricio Suarez

21:45 28 Feb 23

Gabriel Corrente , de Lending Bankers , ha sido el profesional que hemos encontrado , desde nuestra llegada a los Estados Unidos, que mejor trato, mejor información, mejores opciones nos brindo durante nuestra financiación para la compra de vivienda. Como Latino , estamos acostumbrados a tener una relación cercana con quien nos va a dar o tramitar un crédito . Fuimos a muchos bancos y todos fueron muy impersonales , la diferencia estuvo en Gabriel Corrennte y Lending Bankers ya que nos llevo de la mano durante todo el proceso y nos dió la orientación necesaria para poder cumplir con todos y cada uno de los requisitos y tramite .Gracias Gabriel, Gracias Lending Bankers por se nuestro nuevos mejores amigos y asistente para créditos.MAURICIO Y MARIA DEL ROSARIO

Boris Meyerowitz

14:45 24 Jan 23

Incredible, great opportunities, with Mr. Juan Grieben, if you want to buy a property, this is the right place

Franki Luis Reyes Navarro

16:18 19 Jan 23

Son muy eficientes y buenas trabajadoras Ana, Maria y Claudia

Marieva Luchón

15:11 19 Jan 23

Efficiency and responsibility. Ana, Claudia y María they advise the client very well.