A Portfolio mortgage is a commercial loan designed to cover "multiple properties", Instead of using one property as collateral for the loan, a portfolio mortgage actually utilizes the total value of a portfolio of investment properties to collateralize the loan. What sets portfolio loans apart from almost every other loan out there is almost every other lender goes on guidelines and standards but with a portfolio loan this does not apply as it allow the lender to offer you a more suited loan. Let’s see some of the reasons why you should take a portfolio loan into consideration.
They form relationships, not portfolios
Because they are not the conventional mortgages, You don’t have to fit into their portfolios. Generally speaking portfolio lenders work at a very ‘local’ level and know its people well. They know the fact well a borrower comes to them after being rejected by the bigger players. If they lend them the amount now, the client will remain loyal for life. These small lenders understand the reason of rejection and other circumstances the borrower might fall in and thus their risk-taking attitude. Their risks also help their local economy grow.
You matter to them
Borrowers look at portfolio loans when they have a damaged credit or already have too many on them and looking for more. The bigger players will not want to know the ‘why’s behind it; but the small local players will like to know. an accident, poor performing properties etc., can create havoc and the local ones understand.
Why will a portfolio lender approve you?
Borrowing from portfolio lenders too has its own eligibility criteria but they offer you more flexibility. And once you find the best plan for you, you’ll never think of the conventional lenders anymore.They bring about a change in the way you invest and help you grow like never before!
Here at National Commercial property loans, we have Portfolio Loans available for:
Gas Station; C stores, Car Washes, Truck Stops, Apartments; Self Storage Facilities, Assisted Living Properties, Office Buildings, Retail shopping, Hotels / Motels, and many other types of commercial properties.
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