- Title
- Appraisal
- Background Check
- Environmental Screen
- Credit Report
This usually happens within 48 hours after receiving your complete application and supporting documents.
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!
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.
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.
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.
Every scenario is different, but our lender’s mortgage experts are often able to complete a transaction in 35-45 days.
Our lender lends to U.S. citizens, permanent resident aliens, and legal entities. Foreign nationals are not eligible.
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.
When the lender receives the letter of intent and prior-to-processing (PTP) conditions, the order 3rd party reports are ordered:
This usually happens within 48 hours after receiving your complete application and supporting documents.
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.
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.
*If applicable
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.
Submission Requirements for Full Doc Program (700+ Credit):
Submissions Requirements for Lite Doc Investor Program/Bank Statement Program (650+ Credit):
Submission Requirements for SFR Program (650+ Credit):
Underwriting | $2,000 |
Legal Document Preparation Fee1 | $1,500 |
Underwriting2 | $2,000 |
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 |
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 |
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.