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Timeline to
Closing Your Loan
 2-5
Business Days to Review Executive Summary and Issue Soft
Loan Terms or Decline
Project.
1-2
Business Days to Issue Letter of Intent.
1-2
Business Days to Issue Loan Origination Checklist, which is a
List of Items Lender Will
Need to Review to Back Up Information
Given on Executive
Summary or Additional Items Needed.
4-7
Business Days to Review Information Provided to Us in Loan
File
Package.
1-2
Business Days to Receive Term Sheet/Loan Commitment
1-2
Business Days to Order All Required Third Party Reports, ie:
Appraisals, Title
Reports, Environmental Reports, Survey, etc.,
After
Certified Funds are Received From Borrower. If Personal
or Company Check is Used
To Pay Lender for Reports, The Time
Frame Will Be 3-5
Business Days.
10-30
Days to Receive Back ALL Finalized Third Party Reports.
This
Will Vary Based on What is Needed, Location of the
Property, Kind of Property, and Time of Year.
2-3
Business Days to Set Up Personal Inspection of Property, if
required by Lender.
2-4
Business Days to Set Up Loan Closing and Get Certified Funds
Wired.
Estimated
time from to start to finish will be 30-60 days.
This is dependent on how timely you supply us with the needed
checklist items and funds for third party reports.
NOTE:
If
you do not already have an appraisal, DO NOT order one yet.
Let us evaluate the paper work and the lender will order the
appraisal. You will need to send the funds to purchase an appraisal
for
your property.
If
you have ordered an appraisal but have not yet received it,
Please Federal Express everything else to us.
This will help speed up the process to review and close on
your loan. DO NOT hold
back loan papers. The
appraisal can be sent at a later date.
The
plan is to get as much information into underwriting as soon as
possible, so that we can expedite the loan process as much as
possible and CLOSE
FASTER!
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