- Title
- Appraisal
- Background Check
- Environmental Screen
- Credit Report
This usually happens within 48 hours after receiving your complete application and supporting documents.
Welcome!
You deserve a transparent, and smooth transaction process from your lender. If you understand each step of the process and see unfold the way you were told it would, then you will have the confidence to complete the process. No Lender Origination Fee. Fast Closing!
Satisfied!
Mixed Use
This investor needed to refinance their mixed-use property in New York in a hurry. They were able to get the funding they needed. A fully-amortized solution that didn’t require tax returns or a 4506T. Have a similar deal? Complete the form and get started!
Multifamily
The borrower was looking to refinance out of a high rate, short term private note. The borrower was able to significantly lower the borrower’s rate and convert the debt into a long-term, fully amortizing loan. Have a similar deal? Complete the form and get started!
Multifamily
The borrower refinanced their multifamily property in OH and receive cash-out funds needed to increase reserves. The loan was funded through our Lite Doc Program, with no tax returns or 4506T required on small-balance commercial multifamily deals.
Have a similar deal? Complete the form and let's get started!
Mixed Use
The borrower refinanced their mortgage to pay off a small-business loan. The loan closed in 29 days and was funded through A Lite Doc Program, with no tax returns or 4506T required on small-balance commercial deals. Have a similar deal? Complete the form and get started!
Multifamily
The borrower secured a 100% cash-out refinance on a multifamily property in Illinois. The solution was a 25-year, fully-amortizing loan through our Lite Doc Program, with no tax returns or 4506T required on small-balance commercial multifamily deals. Have a similar deal? Complete the form and get started!
Retail
The experienced investor rehabbed and stabilized their property in the last 18 months. Despite their high credit scores, they were turned down at several local banks due to recent stabilization and bank DSCR/underwriting requirements. They were able to refinance out of a high rate, short term hard money loan into a 5/1 ARM, 30-year amortization with a 3-year prepayment penalty. Have a similar deal? Complete the form and get started!
This Multifamily property owner was able to refinance the property into a 30-year term with a fixed rate. The owner was able to get cash-out for expenses. Single family investment properties transactions that optimize your portfolio. Get Quoted!
Frequently Asked Questions & Process
FAQs
Submit Application & Documentation
Letter of Intent Acceptance
Conditions Update
Underwriting & Review
Final Underwriting
Closing & Funding
Documentation
FAQs
Deals that are a good fit for our lender:
Our lender specializes in providing alternative commercial mortgage solutions between $100,000 and $2 million for credit-worthy real estate investors and business owners who can’t or won’t work with banks.
How is our lender different from traditional lenders?
They offer more flexible loan programs, faster closing schedules, and fewer documentation requirements than traditional bank options. With banks turning down 80% of the applicants they talk to, there is a big opportunity with these prospects.
Property states that are eligible?
Our lender lends in all U.S. states except Delaware, Hawaii, Idaho, Michigan, Montana, Nevada, North Dakota, South Dakota, Tennessee, Vermont, West Virginia, and Wyoming.
How long does a commercial property loan take to close with our lender?
Every scenario is different, but our lender’s mortgage experts are often able to complete a transaction in 35-45 days.
Eligible borrowers:
Our lender lends to U.S. citizens, permanent resident aliens, and legal entities. Foreign nationals are not eligible.
Submit Application & Documentation
You can complete your application online through our secure portal. You will also be able to upload your supporting documents. In order to receive your “Letter-of Intent” you must submit a completed application and provide all initial documents.
Letter of Intent Acceptance
When the lender receives the letter of intent and prior-to-processing (PTP) conditions, the order 3rd party reports are ordered:
Conditions Update
While the 3rd party reports are ordered, your Transaction Manager reviews the required conditions for the loan and sends you an updated conditions list if any changes have occurred. The more information you provide early in the process, the more certainty you can enjoy during the underwriting process.
Underwriting & Review
After receiving the completed appraisal, our underwriters perform a full review of your client’s file. Then we issue a pre-approval letter. The pre-approval letter is like a transaction check-in that lists the documents still needed to finalize the underwriting process. To ensure that our letter is accurate submit all required documentation before the appraisal is complete. This portion of the transaction usually takes 2-3 weeks.
Final Underwriting
Once all conditions are received and the following reports, a final approval decision is made.
- Appraisal
- Insurance
- Title
- Entity documentation
- Certificate of occupancy*
- Payoffs*
*If applicable
Closing & Funding
Congratulations, your loan request is approved! The loan is funded after you (the borrower) signs the loan documents and the closing agent reviews all documentation. Funds are typically disbursed within 24 hours of closing.
Documentation
Submission Requirements for Full Doc Program (700+ Credit):
- Completed/signed application OR 1003/personal financial statement/other application PLUS loan supplement form
- Tri-merged credit report
- Rent roll (multi-tenant properties)
- P&Ls/operating statements last 2 years and YTD for property
- Last 2 years’ tax returns
- Purchase contract (if applicable)
Submissions Requirements for Lite Doc Investor Program/Bank Statement Program (650+ Credit):
- Completed/signed application OR 1003/personal financial statement/other application PLUS loan supplement form
- Tri-merged credit report
- Rent roll (multi-tenant properties)
- P&Ls/operating statements last 2 years and YTD for property
- Purchase contract (if applicable)
Submission Requirements for SFR Program (650+ Credit):
- Completed/signed application OR 1003/personal financial statement/other application PLUS loan supplement form
- Tri-merged credit report
- Rent roll (multi-tenant properties)
- P&Ls/operating statements last 2 years and YTD for property
- Purchase contract (if applicable)
Fees & Estimated Fees
Commercial Property
1-4 Unit Residential Investment Properties
Portfolio Loan Properties
Third Party Estimated Fees
Principal & Interest, Escrows and Automatic Withdrawal
Helpful Facts
Commercial Property
| Underwriting | $2,000 |
| Legal Document Preparation Fee1 | $1,500 |
1-4 Unit Residential Investment Properties
| Underwriting2 | $2,000 |
Portfolio Loan Properties
| Underwriting | $2,000 |
| Legal Document Preparation Fee | |
| Standard Fees | $1,500 |
| Additional legal fees in the amount of $2,500 – $5,000, may apply for loan submissions that includes multi-states, multi-counties and property release requests. | $2,500 – $5,000 |
Third Party Estimated Fees
| Tax Service | $100 |
| Flood Certification3 | $50 |
| Due Diligence/OFAC3 | $150 |
| Credit Report3 | $45 |
| Environmental Due Diligence4 | $145 |
| Environmental Review Fee4 | $500 |
| Environmental Insurance4 | $750-$2,000 |
| Phase I (Environmental Site Assessment Report) | $2,000 |
| Appraisal Review Fee | $500 |
| Appraisal Flat Fee (Commercial Properties) – Multifamily Properties – Other Commercial Properties | $2,000 $2,750 |
| Appraisal Flat Fee (1-4 Unit Residential Investment Properties) – Single Family Residence – 2-4 Properties | $650 $800 |
| Appraisal (Portfolio Loan Properties) | $650 – $1,200 per property |
| Title5 | |
| Attorney Document Review Fee6 | |
| Additional fees may apply for each additional guarantor |
Principal & Interest, Escrows and Automatic Withdrawal
- Principal and interest is calculated on an actual/360-day basis; prorated interest from time of closing through end of month is due at time of closing.
- Monthly escrow for taxes and insurance is required with a 2-month cushion; if the renewal of insurance is due around the time of closing, one year of insurance premium will be collected at closing.
- Automatic Withdrawal (ACH) is required for all loan payments.
Helpful Facts
- The information provided contains estimated costs only and may change without prior notice. All third party fees will be your responsibility.
- These are standard fees. Fees may be increased or decreased based on promotional programs. Please contact your Relationship Manager for more details.
- A prior or new survey is required for loans over $800,000 and may be required for loans under $800,000 based on a review of the title. Survey costs vary based on location and size of the property.
Additionally:
1Lender reserves the right to charge additional fees for CEMA requests. Lender will engage outside council to prepare CEMA documents and handle the settlement.
2The borrower is only responsible for the $2,000 Underwriting fee, the Appraisal cost and Title fees on 1-4 unit residential investment properties.
3Lender reserves the right to charge additional fees if there are multiple parcels, multiple entities or multiple guarantors.
4The majority of the loans are charged only the environmental due diligence fee but certain property types require environmental insurance to be paid at closing. Environmental due diligence is not required for 1-4 unit residential investment properties.
5Once the title examination is received, the lender will provide a preliminary settlement statement to the borrower containing title company specific fees, including title search, title insurance premiums, settlement fees, recording fees, and possible survey fees.
6Georgia, South Carolina, North Carolina and Texas require that all documents are reviewed by state licensed attorneys. Such fees will be included on a preliminary settlement statement prior to closing. Any additional legal fees deemed necessary outside of normal costs will be discussed with the borrower prior to closing.