• Look beyond the rate and terms before committing to a lender when you are concerned about achieving the maximum loan amount.
• For construction loans, unless it is a unique property type or huge loan size, local portfolio lenders are usually more aggressive on loan amount than national securitized lenders.
• For permanent loans, national lenders tend to be more aggressive on loan amount and usually have better rates and terms than local portfolio lenders.  However, prepayment penalties for national lenders are usually more severe.
• Local portfolio lenders are obligated to support their local community from which their deposits are derived; therefore they may be more aggressive in making short term loans.
• Consider the strength of your local market.  If your submarket is stronger than the national market, you want to stay with a local lender; however, opposite is true if your submarket is worse than the national market.
• The appraisal is a huge factor in determining the loan amount, it can be to your advantage to know who is on the Lender's approved appraiser list.  If it is a national lender they usually use a national appraisal firm who may not know the submarket as well as a local appraiser.
• Know the lender's underwriting criteria.  What are the lender's max. loan to value and loan to cost ratios?  Know how the lender calculates the Net Operating Income (NOI).  What debt service coverage ratio do they use?  Do they use their own vacancy factor or cap rate regardless of what the appraiser says? Do they include tenant rollover costs in the operating expenses? How do they treat management expenses when the tenants pay for management? What reserve expenses do they us? or do they defer to the appraisal?

Consider these issues and more before committing to a lender if you are concerned about maximizing your loan amount.  Call me I would be happy to assist you in selecting the best lender for your particular project and tailor it to your specific need.