All of the above. Most will use a loan broker however because the loan broker has a greater access to products. The commercial agent will not probably actally arrange the loan details (processing) although they may have that capacity. They may have a "go to" source of money for a particular product or type of property. Unless it is a cash transaction the loan is a key ingredient and the commercial agent will need to have an idea where to find the need funds if you do not. A mortage broker is frequently used because lenders for a particular product come and go daily. A great program available today may be gone tomorrow. The loan broker is the bird dog plus, if good, will process everything in a manner acceptable to the actual lender.
May 13, 2009