How can Castle Commercial Mortgage charge such high rates & fees?
Sources of capital on real estate ventures are limited.Conventional lenders/banks tend to have many requirements which not everyone can meet: i.e. having 20% down; or a FICO score above 680. Other real estate deals need to close fast and conventional lenders/banks can take 30-60 days to approve and fund the loan. Castle Commercial Mortgage Co. typically will fund 24-48hrs after making a loan commitment. The approval process may be only a day or two on some loans. That mainly is due to getting an appraisal & inspection done on the property.
