Apartment mortgage lenders have a lot to consider when analyzing a loan request for an apartment building. They will analyze the borrower personally, as well as the property. Borrowers should be able to produce the necessary and requested documentation upfront to avoid processing delays. Any negative information about the borrower or property should be disclosed and explained upfront. A borrower that understands what a lender needs will have a higher chance of approval.
Stephen A. Sobin has more than 30 years of mortgage lending experience. He is president and founder of Select Commercial Funding LLC (www.selectcommercial.com), a nationwide commercial mortgage brokerage company. Sobin is a proud member InterCapital Group, a nationwide alliance of commercial mortgage professionals. He can be reached at 516-596-8537.