FREQUENTLY ASKED QUESTIONS

How long does it take to close a loan from start to closing?

The speed to close a loan from start to finish varies depending on the type of loan (e.g. CMBS, HUD, Private Lender, etc.). It also depends on how quickly the applicant provides all required documents, and how quickly third-party property inspection reports and necessary repairs (if any) are completed and reinspected.

That said, most loans will typically close within 45 to 60 days from application submission.

 

How is Metro Commercial Capital compensated?

Like all mortgage brokers, Metro Commercial Capital is compensated by the borrower at closing. Our fee may either be deducted from the loan proceeds or paid directly by the borrower at closing. The standard industry fee is 1% of the total loan amount paid at closing of the transaction.

 

What is your loan submission process?

Our "secret" to achieving a high rate of closed loans in the shortest possible time frame is because we will not submit a loan package to a lender until we, 1) collect and analyze all documentation, 2) obtain the appropriate credit reports, 3) do a preliminary valuation analysis of the real estate, and 4) complete our own pre-underwriting.

After this process, if we believe the application has a strong probability of being approved, we assemble the entire package and submit it to the appropriate lender for their final approval.

 

How long have you been in the business?

Ken Jones, the founder and president of Metro Commercial Capital, LLC, has been arranging commercial mortgage loans for his real estate brokerage clients since the late 1970s. He's also provided commercial mortgage underwriting services to major CMBS lenders, including Chase Commercial Mortgage, Citicorp Securities, and Deutsche Bank.

Ken created Metro Commercial Capital, LLC to separate his commercial mortgage brokerage business from his real estate brokerage business in 2022.

 

What are your typical fees?

Our fees are based on market conditions and have never caused us to lose a deal. More importantly, we will always totally transparent about our fees and will tell you what our fees will be at the start of the process.

Can I get a non-recourse loan?

Yes, depending on the type of loan. For example, CMBS, HUD, Fannie Mae, and Freddie Mac loans are all non-recourse. There are also some banks and private lenders that also offer non-recourse loans. You can find out more information about non-recourse loans by reviewing our term sheets.

 

We realize you may have additional questions or questions about your particular situation.

If so, please contact us and we'll be happy to answer any questions you may have.