This by far was one of the fastest transactions I've been involved in (I wish they all were like this). The borrower had to refinance out of a mortgage that had a balloon due date that was fast approaching. He came to me a mere 40 days before the due date and wanted to close before this date. Most transactions in the Commercial world take between 30-60 days depending on the property type and borrower strength so I had no idea in the beginning if it would close in time and I didnt want the blame of "not getting it done in time".

Without going into the boring details I will say this, My borrower was awesome in that He had great credit (765 FICO) and had an income producing property that Debt serviced at 1.40 and an LTV below 50%. The main reason this closed and went so smoothly was because whenever I asked for Something (tax returns, rent roll, etc) He had it to me that day! And I can't thank our Appraiser enough because they moved us up in the appointment book and had our appraisal ready in the 2nd week.

He was happy with the rate/term (5-yr fixed/30yr term, 3-yr pre-pay, 7.375 rate) and was grateful that he was able to pay off the other Loan in time.

If any of you have questions or have buyers on a deadline, let me know!

At worst I will tell you if the deal is dead, At Best you will get paid and have happy clients!!

 Thanks,

Josh Cunningham

Commercial Loan Consultant

New West Financial Services

(909) 949-8555