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Kew Gardens Hills Gets A New Daycare Center

Kew Gardens Hills Gets A New Daycare Center

Frequently clients come to MortgageDepot with specific financial needs that accompany their ambitious goals of home or business ownership. Such was the case when a client wanted to finance a newly constructed commercial property that is a daycare center. Mortgage loan originator Ruben Benjaminoff sourced a unique financing opportunity for the client.

This unique financing opportunity was necessary to overcome the many factors that could have been obstacles to obtaining a mortgage for the property, located on Main St. in Kew Gardens Hills, Queens, NY. Principally, the fact that there were no tenants in the newly constructed building was its first challenge. Add to the fact that the appraisal came back at a maximum amount of 6.5 million dollars. And critically, there’s the issue of liability for this space as it’s a daycare center for minor children.

Ruben was able to successfully secure a commercial mortgage by structuring and presenting the loan accurately to the lender, addressing all their benchmarks for the client to qualify for the mortgage in the final amount of $2.2 million dollars.

The professional efforts of a mortgage loan consultant on your behalf may determine whether or not you’re able to obtain a mortgage that suits your needs. We here at MortgageDepot will work diligently to match your financial circumstances with the best mortgage product available to suit your needs. When you need a commercial mortgage; contact us, and we’ll do what we can to pre-qualify the property.  

Contact us today at 800-535-0270 for more information or email us here.

Boris Bast closes a commercial loan for a medical building

Boris Bast closes a commercial loan for a medical building

MortgageDepot’s Mortgage Loan Officer Boris Bast recently assisted a client in securing the financing for a single story, medical office building. The building is a total of 17,750 square feet with 3,708 square feet devoted to medical office space for a medical clinic and a medspa on the premises.

Boris was able to secure a commercial loan of $700,000 with a 30 year fixed rate by re-using the previously completed appraisal, no income, and with leases only. This single-story building was formerly owner-occupied and currently houses only two tenants. More importantly, this commercial loan was secured on behalf of the client in under 30 days! Boris was able to ensure the best financing option that left the entity in excellent standing overall.

Even the most unique opportunities in real estate can have specific challenges when one is attempting to secure funding. The Mortgage Loan Officers here at MortgageDepot are dedicated to matching you with the very best financial options available to secure your new home or business.

REQUIREMENTS FOR A COMMERCIAL LOAN

  • Property used as collateral
  • Property Cashflow
  • Rental Income counts as well
  • Income and assets of the guarantor
  • The credit of the borrower

CLOSING A COMMERCIAL LOAN IN 30 DAYS

  • Make sure your two most previous years – both personal and business – tax returns are completed and filed
  • Prepare year-to-date personal financial statements and business operating statements – no more than 60 days old
  • Locate your THREE most recent months bank statements – all pages
  • If you are refinancing a commercial mortgage loan: make sure you have your payoff statements, survey, title policy, and appraisal in hand.
  • If you are purchasing: the sales contract must be valid. If the contract will expire before the closing of your commercial real estate loan, get an extension in advance.
  • For investment properties, make sure all tenant leases are valid – ensure lease terms match the rent roll.
  • Put your accountant and lawyer on notice upfront that you are applying for a commercial loan. Inform them you will need up-to-date business and financial documentation immediately upon request.

Contact us at MortgageDepot 800-535-0270 when you want to obtain a commercial loan for your new or existing business or email us here.

Meet Lisette Espinoza

Meet Lisette Espinoza

I’d describe my role at MortgageDepot as a processor, and additionally I’m also a skilled underwriter who performs pre-qualifications as needed. Before joining the staff six years ago, I worked in bookkeeping and accounting.

Each of my work days begins with email and attention to the priority files based on their urgency. I’m very methodical in my approach, and I start each day with a daily task list. I was fascinated by the mortgage process; and as a bookkeeper, I wanted to learn more. I have the advantage of possessing a natural affinity for numbers, and I enjoy working with them, so it was a seamless progression for me. Excellent client service is when your customers are so happy that they refer others to you!

The most critical change I’ve experienced in this industry is how digital technologies have transformed processes completely. If I could have one wish granted, it would be to see quarterly information sessions that allow professionals such as myself to keep abreast of the constant changes in the mortgage industry.

Meet Irina Trofimova

Meet Irina Trofimova

My role here at MortgageDepot is as a Loan Officer’s assistant. Before joining MD three years ago, I secured financing for Title 9 Autos as an automotive loan clerk for car purchases. My typical day consists of processing applications, checking for updates and making additions of required documents.

Although I was doing auto financing, I always really wanted to learn the mortgage business. And it’s a big plus that my job is very near my home, NO commute! It’s cool when clients return to conduct additional business with us and refer their friends and family! What’s changed in the mortgage industry is how technology has made information more accessible for consumers and now that’s the standard.

I’m looking forward to a day when collaboration is the focus, and everyone can do their jobs effectively no matter what their role is in the mortgage process.

A self-employed dentist finally gets financing after trying 4 times

A self-employed dentist finally gets financing after trying 4 times

Mortgage Depot devotes specialized care and attention to each of our clients seeking a mortgage. Recently, Mortgage Loan officer Roman Kaziev worked diligently to secure a mortgage for the following client facing specific challenges when applying for a mortgage. The borrower is self-employed obtained a No Income Check loan after being declined by four other banks. The process went very smoothly, and they can now save $900/Month on their mortgage.

purchase

Roman Kaziev went above and beyond to make sure my mortgage goes through. His entire team worked for months to ensure that the banks and attorneys complete all the paperwork expeditiously and thoroughly. I was always kept informed of every step of the process. I highly recommend Mortgage Depot for all your mortgage and refinance needs.”

Securing the right mortgage for each of our clients is our ultimate goal. No two people will have the same financial aspirations or needs, and we are focused on providing them with the very best options when seeking a mortgage. If you want to be a homeowner, let us assist you in making those dreams a reality. Contact Roman for any or all of your mortgage needs.

Meet Yury Gokhberg

Meet Yury Gokhberg

Yury Gokhberg is a Mortgage Loan Originator here at MortgageDepot and also a licensed Real Estate agent. Yury has over 25 years of experience. He spent thirteen years with Chase Manhattan Bank as their first Russian speaking loan officer. Before joining the staff here at MortgageDepot, Yury was formerly a loan originator at Coldwell Banker and Citizens Bank.

“I have a flexible work schedule as I make my hours. This flexibility also allows me to work across various time zones Internationally as well. What interests me the most about working in the mortgage industry is the ability to help other people. Working here at MortgageDepot allows me to work with clients in ways that traditional banks do not.”

“Good client service looks like asking critical questions about their future goals, offering the very best interest rate, and helping them to accomplish their ultimate goal of homeownership. As far as the changes I’ve witnessed from the beginning of my career as a mortgage loan originator, it’s completely different than when I started my career. It has become highly selective to become approved for a mortgage because of government oversight.”

“If there’s a change that I’d like to see, it would be the creation of a guaranteed low-interest-rate government program that offers a product with a 25-30% down payment.

To view Yury’s personal page, follow this link. Contact Yury for any or all of your financing needs.

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