2. Reach out with e-mail

With lenders making regular changes to their guidelines, e-mail is a great way to communicate and get more acquainted with them.

When you get a loan request, e-mail a few lenders. Describe the loan request and ask the lenders for their input or quotes for the loan scenario. Most lenders are happy to respond quickly with either a positive or an uninterested reply.

Once you've done this a few times, you'll begin to learn which lenders still have money to lend. You'll also have a better idea of the types of loans they are interested in funding.

3. Know the details

Loan packaging can be essential to ensuring an approval for your client. Pay attention to detail with income-producing properties.

Make sure you know lenders' guidelines regarding LTV and DSCR before submitting a loan package. Anticipate any questions lenders may have about income, expenses, vacancies and other key issues in advance, as well.

Have the answers ready before a lender even asks them, and submit any explanation letters with your initial loan package. This will make the lender's job easier when reviewing the file. Lenders will more likely give a loan package priority if it has complete documentation on the property and the borrower.

The key to not getting pigeonholed with small-balance commercial loans is to know your lenders and to know the keys that will motivate them to offer your clients the best loan possible.

Over time, an established relationship with lenders and knowledge of their programs will yield the best products for your clients.

Joy Hunner is executive vice president of GEM Commercial Lending, a division of Golden Equity Mortgage Corp. With offices in San Diego and Palm Springs, Calif., and service capabilities nationwide, Golden Equity Mortgage Corp. is a comprehensive mortgage-brokerage company. Visit www.goldenequitymortgage.com or call (866) 519-6290 to learn more.

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