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FAQ
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I’d like to talk to a loan originator with Westport Commercial. How can I schedule a call?We are here to help! You can schedule a call with one of our team members by filling out the Contact form at the bottom of this page, and one of our originators will be in touch. You can also email us at info@westportcomm.com or give us a call at (203) 293-7030.
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Why should I work with a boutique mortgage broker such as Westport Commecial instead of dealing directly with a lender?While some borrowers choose to deal directly with lenders, we think it's not only more efficient to work with a mortgage broker, it's also smarter. Yes, you can go it alone, and you might be able to your deal funded. But your chances increase significantly if you use a broker, and the terms and rates will likely be much better. Think of it this way—you're in a rain forest, you know your destination, and you have a map. Would you rather try to find your way alone through an unfamiliar environment or would you prefer to have a guide who's successfully made the trek many times before? Because brokers such as Westport Commercial talk with lenders every day, we know the types of borrowers and properties they're willing to finance, and we also know the most current terms and rates. We know what lenders really want, and we can "package" borrowers and deals so they're most likely to get financing. Armed with in-depth lender knowledge and dealmaking expertise, we're able to obtain the absolute best financing for our borrowers.
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What type of real estate does Westport Commercial finance?Westport Commercial has experience finding financing for every commercial property type, from office condos to self-storage facilities and everything in between. We also work with lenders to provide Fix & Flip loans for residential properties with one to four units.
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What kinds of borrowers does Westport Commercial work with?We work with a wide variety of borrowers including: small business owners, property owners/investors, contractors, and developers. We work with veteran real estate buyers, as well as first-time buyers.
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What kinds of loan programs does Westport Commercial offer?We work with 200+ lenders and have preferred relationships with 30+ lenders to offer a wide range of loan programs. We offer: bridge loans, conventional loans, construction loans, equity investment, fix & flip loans, and mezzanine loans. Check out the LOAN PROGRAMS page on the website for more detailed information or to apply for a loan.
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In what states does Westport Commercial do business?Westport Commercial originates loans for properties in all 50 states. We do not currently have the ability to originate loans for properties in Canada, Puerto Rico, or the U.S. Virgin Islands.
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What are current loan rates and terms?Please refer to our Ballpark Rate Sheet, which can be found at: https://westportcommercial.wufoo.com/forms/ballpark-rate-sheet/
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How long does it take to close a loan?On average, it takes 21 days for Westport Commercial to close a loan. Our fastest closing required only four days! The amount of time it takes depends on how quickly the borrower can provide the necessary information and documentaton and how quickly the appraisal can be completed.
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What kind of lenders does Westport Commercial work with?We work with a wide variety of lenders so we can offer the best possible financing to our borrowers. Our lenders are the best in the business and offer competitive rates and terms.
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What kind of information and documentation do borrowers need to provide to obtain a loan through Westport Commercial?It depends on the lender, but most require an application plus two years of tax returns and two months of bank statements. However, some lenders are willing to fund loans without tax returns. Since we work with lenders on a daily basis, we know the borrowers and lenders that are a good match.
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Are there any upfront fees associated with working with Westport Commercial?No. We do not have any upfront fees. However, some lenders require certain types of due diligence such as appraisals.
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I’m thinking about refinancing my property, but I’m not sure if it’s the right time. What should I do?"Take our "Should I Refinance My Property?" Quiz, which can be found here: https://westportcommercial.wufoo.com/forms/should-i-refinance-my-property/
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How long has Westport Commercial been in business?Westport Commercial was founded in 2015. Since then, we've closed hundreds of loans.
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Where is Westport Commercial located?Our home office is in Greenwich, CT, and we have team members in Florida, New Jersey, Tennessee, and Texas. Our address is: 177 W Putnam Avenue Greenwich, CT 06830
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