HOW ARE LOAN ORIGINATION FEES CALCULTED?
Understand there is no such thing as a free lunch. Everybody gets paid. Some fees are hidden, some fees are disclosed. Our origination fee is disclosed in a fee agreement. These are known as points. Some choose to make a loan seem "no fees" by making the i% higher (which would be 8 points on a 20 year loan). Either way, you will pay. Since points on commercial loans are paid at the close, and some even add the points into the loan, it is important to know that having a Fee Agreement is much better than not knowing.
HOW DO I KNOW MY RATE?
The honest answer is that UNTIL A LOAN IS COMPLETELY UNDERWRITTEN, YOU DON'T KNOW! You can be given a range, but that is all. Someone might give you a quote, but that number is simply a guess! Once a loan is underwritten, you have an underwriting score. This determines how much above an index you will pay based on your risk score. We have added a CLICK RATES BUTTON to give you a true range of what you will be charged for your loan.
ARE LOANS DIFFERENT?
Different types of loans have different types of risk. Compare a single home mortgage vs. a credit card interest rate? There is a large difference in the rate. The risk of the TYPE OF LOAN determines the rate range. Generally, the cheapest loans are more conventional refinance loans on existing properties and other certain real estate loans. This is because they will have established income AND a building or property to back it. Construction loans are more expensive because there are no earnings. Working Capital Loans may have an income stream but not as solid assets. At DirectLink Capital, we are unique because ONCE WE HAVE COMPLETED YOUR UNDERWRITING WE WILL GET YOU THE LEAST EXPENSIVE LOAN AND LOAN TERMS TO MEET YOUR OBJECTIVE AND RISK SCORE AS WELL AS THE LOAN TYPE BEST FOR YOUR SITUATION! Until this is completed, you will not know what is the best for you.
HOW CAN I KNOW THAT I HAVE THE BEST DEAL?
DLCC has a proprietary worldwide database of lenders and brokers. Craig Evans (see about us) has more than 10 years with many accolades in the business. Craig is also a consultant and can make suggestions to lower your risk score and save you thousands of dollars to millions of dollars in the long run. Our databases and partner network (see our team - about us) typically saves a client 1/4% or more versus a client trying to do it direct. See what happens below with 1/4% difference on a 20 year loan. The first is a bank loan and the second is a brokered loan with fees.
HOW LONG DOES MY LOAN TAKE?
It depends on the type of loan and scope of the underwriting. Once we receive a package, the normal time frame is 60 to 90 days. Hard money and Working Capital loans take 30 days after package receipt or less. Merchant Cash Advances as well as Factoring may take as little as 48 hours upon receipt of the package. Loans requiring an equity partner are more difficult to get approved and may take a period from 90 days to 1 year depending on the scope and coordination of the partners.
1. CLICK ON LINK TO THE RIGHT
2. AN EXCEL SHEET WILL DOWNLOAD USUALLY AT THE BOTTOM LEFT ON YOUR SCREEN (OR IT OPENS)
3. CLICK ON THE EXCEL SHEET
4. THIS IS PRESET BUT YOU CAN USE YOUR OWN NUMBERS
5. CLICK ON BANKRATE COMPARISON
6. YOU MAY GET A WARNING...THIS IS BANKRATE.COM, A TRUSTED SITE.
7. FOLLOW INSTRUCTIONS ON THE EXCEL SHEET
8. FOR THOSE WHO WANT TO SEE A REPORT REFLECTING A 1 MILLION DOLLAR LOAN WITH LOAN 1 AT 4 1/2% AND 0 POINTS AND FEES AND LOAN
2 IS THE SAME LOAN WITH 2 POINTS BUILT INTO THE LOAN BUT AT 4 1/4%.
CLICK TO THE RIGHT