When I finished dentistry school, I wanted to open a practice of my own. I knew that I wanted to specialize in treating children. My father suggested that I get approved for a commercial mortgage loan before checking on possible buildings that I would like to buy.

I called and made an appointment to meet with a commercial mortgage advisor and discuss my options. I wanted to know what the current mortgage rates were so that I would be able to see if they moved up or down while I was looking for a building.

The commercial mortgage advisor was extremely helpful and had me fill out all the necessary paperwork that was needed to pre approve my commercial loan. This way, I could go into negotiations for the building I wanted with knowing I could get the loan.

I was preapproved for my loan in less than forty eight hours and then started the search for the building to put my practice in. I found one that was perfect, it was big enough, and it was in a great location. I put in an offer only to find out that there were two other offers being turned in at the same time.

In the time it took for me to write up the offer, I also found out that the current mortgage rates had fallen a bit, which meant that I could up my offer and still be able to make the payment. That is what I did, and I ended up with the building.