Existing lender declined on any further loan. Refinanced with different institutional lender at lower rate to payout all existing debts.
Client’s current institutional lender pulled their loan (due to consecutive business losses on financials). Approved loan with another institutional lender at market rate.
Saved client over $120,000! Their existing broker offered 1/2% higher rates and doubled our fees. We received LOI in 24 hours & final commitment within 72 hours! Placed with institutional lender.
Commercial bank lender dropped the deal 3 days to completion due to notes on Environmental report recommending Stage 2. Funded with private lender on completion date. Saved buyer $150K deposit.
Duplex that was converted into a four-plex being purchased by a corporation. Funds for down payment came from their operating corporate business. Their bank offered them commercial pricing. Loan was approved for near residential pricing (residential interest rate) with a different institutional lender. Saved client over $50,000 on their 5 year term!
Clients with no prior business experience purchasing empty strata and build brand new operation from scratch. Their bank gave them the run-around. Another pproved and financed long term loan with different institutional lender. #bankdecline
Brand new business operated by buyer with no previous experience. Purchase was declined by their own bank. Approved and financed long term loan with different institutional lender. #bankdecline
Rehab and major renovation was required on subject property. Multi-million dollar rehabilitation project on $20M property. They required secondary financing behind a 1st CMHC mortgage. Approved with 5 year term pricing (P+0.25) which was much lower than their 1st mortgage rate with an institutional lender.
Refinance 1st/2nd and consolidate debt. Loan approved at Prime + 2% to buy time to fix client’s situation and refinance back at an A lender.
Purchase of building containing 2 retail stores surrounded by autobody/industrial business. Applicant’s bank wanted Stage 2 environmental done. We had it approved with Stage 1 as-is. Financed long term loan with institutional lender.