Using a mortgage broker is always beneficial. They help you find and target the best opportunities and the ever-changing market. The broker provides its expertise and experience to help you achieve your goals and obtain the precise loan for your needs.
The loan application process is quick and easy. The good news is it takes just a few minutes of your time to qualify your loan.
We do not charge pre-payment penalties. However, if you're interested in information on a Yield Maintenance Penalty, this is how it works:
Yield maintenance is the penalty that guarantees the lender’s rate of return on a loan. It’s a fee that borrowers pay to lenders to compensate for the loss of interest caused by the loan prepayment.
Calculating the yield maintenance penalty is not difficult; there are convenient online calculators to evaluate the yield maintenance penalty. Or you can use this simple formula.
Yield Maintenance= Present value of remaining payments on mortgage x (Interest Rate – Treasury Yield)
Commercial mortgages require essential information to make the loan process more efficient. The burden falls on the borrower to provide required documentation for a smooth and speedy closing.
Here are the common mistakes that borrowers make.