What is a loan broker?
A loan broker works with a variety of lenders to find you the right loan for your needs. The broker has access to many lenders with many options for rates, terms, types of loans, etc. This can save the investor a lot of time.
Additionally, most brokers only earn their commission if you close the loan.
Often, lenders wrap a broker’s commission into the closing costs and adjust their fees so that your closing costs and loan commission is the same amount as if you had contacted the lender directly.
Why do investors work with brokers?
There are hundreds of direct lenders across the country. Each has it’s focus in terms of what type of borrower and property they fund.
For example, some lenders will not work with:
*First time investors
*Non-warrantable condos
*Rural properties
*Modular new construction
*Out of state investors
etc.
As a broker I have access and relationships with many lenders, so I am able to assess your situaiton and narrow down your options, while working with trusted lenders.
In addition to saving time and money, clients like working with someone they know and trust (me!), rather than working with a different lender every time their investment details change.
Does it cost more to work with a broker than to go directly to a lender?
Sometimes yes, sometimes no.
Lenders work differently with brokers: some lenders add only my commission points if I work with them, some drop their points to accommodate my points and some add my points on top of theirs.
Think of me as a luxury travel agent for a major, complicated, long-term journey. You can do your own research for your trip (which can take you days or weeks, during which you will learn a lot!), or you can hand that off to me – and I will use my experience, insight, and spend as much time as it takes to find you the right loan and best rates and terms for your situation.
Ultimately, the value I work hard to provide is to save you both time and money, while at the same time, getting you a great loan with a trusted, tried and true lender that can get you to the closing table.
Do you receive a commission?
Yes. My broker commission varies depending on the loan amount (the higher the loan amount, the less my commission), the type of loan (commercial fees are higher than residential), and the lender.
My commission is generally between .5 and 3 points, and I sometimes charge a processing fee of up to $750.
My commission/fees are spelled out transparently in the lender’s term sheet that you receive, so there are no surprises.
Do I pay a commission if my loan does not close?
Definitely not.
What are your credentials as a broker?
I wrote professionally about the alternative investment lending industry for 5 years before deciding to make the leap into being a broker.
Once I did that, I studied with the Commercial Loan Broker Institute (CLBI) to gain more education on the process of commercial lending.
Through them, I am now aligned with a private lending desk team that has over 25+ years of lending experience in both traditional and alternative lending. This team is highly experienced and aligned with my own values of ethics and integrity.
Once I have pre-vetted your deal, I will personally connect you with this back office team, who will work with you to get your application and paperwork submitted, and get you to closing as quickly and efficiently as possible.
Do you need a license to be a broker in Colorado?
I do not need a license to do alternative investor loans in Colorado.
Although loan brokers that work with consumer-facing (non-investor) loans do need a license, because I am working solely with investors, that is not required.
Although it is not required, I am looking at getting my NMLS license in late 2026, as well as the Chartered Alternative Investment Analyst (CAIA) license.
How do you choose which lenders to work with?
We choose lenders that:
1) Have been directly referred to us through the Commercial Loan Broker Institute (CLBI)
2) We have met personally through Bigger Pockets (at BPCON)
3) We have met through our professional network of lenders and investors
4) Are highly referred to us through other brokers
5) Have a very unique program that a borrower is interested in exploring
My lending team and I have relationships with hundreds of traditional and alternative lenders. These lenders know my lending desk’s reputation and are excited to work with us and our clients. They believe, as we do, that personal relationships are everything. We are all building relationships for the long term.
How long does it take to get a term sheet from a lender?
It depends on the deal, the loan type and the lender. I can sometimes get it to you within a few hours, and sometimes, for more complicated situations, it could take a few days.
Do lenders pull a credit report?
YES. This is only done once you have received a term sheet from a lender, and have agreed in writing to move forward with me and the lender, and you have signed a release to run your credit report.
Where are you based?
Tabernash, Colorado. I live at 9000 feet at the base of the Continental Divide near Winter Park Resort, one of Colorado’s major ski resorts.
If you are based in Colorado, why is your business named Wild Palm Capital?
I love the mountains, and I also love the islands! I spend a lot of time on St John in the USVI (in fact, I am working on developing a small glamping resort there: Wild Palm St John). So, I decided to add some palm trees to my daily Colorado life!
How can I get more answers to my questions?
You can call, text, or email me:
Melanie: 970-531-0696, [email protected]
The Lending Process: Overview
1
I start by understanding your real estate investing needs, goals and current situation. This initial conversation allows me to gather essential information about you and your project so that I can best tailor my services to fit your needs.
2
I take your project to my private lending desk team for review. My team analyzes your project in relation to our full spectrum of lenders to determine which ones would be the best fit for your project. (We have relationships with hundreds of lenders across the traditional and alternative lending spectrum.) We then contact those select lenders to confirm their interest.
3
Once we have identified lenders that have a strong interest in your deal, I personally connect you with my private lending desk team, who will discuss the pros and cons of each option, allowing you to make an informed decision based on your financial goals and preferences.
4
Once you confirm your interest in a particular lender, my team will guide you through the application process and the necessary paperwork and documentation, ensuring a smooth and efficient application experience without unnecessary delays, all the way to the closing table.
5
My commitment to your financial success continues, as I offer advice and resources to help you manage your loan effectively and explore future financing opportunities.