Loan Process

Step #1 - Borrower

Borrower to complete: 1003 Application, either on line on our web page or down load a copy to print and fax to our office and Information; Loan Request Form on web site; 2005, 2006 and year to date Financial Reports on property and Current Rent Roll. These items forwarded to National Commercial Property Loans for initial review. National Commercial Property Loans will order a credit report for all borrowers.

Step #2 - National Commercial Property Loans

We will send you a Good Faith Estimate, Loan Summary, Document Check list and Conditions List for review and signatures. This is not a formal approval however Letters of Intent may be issued based on the information provided; Appraisals are not ordered at this time. (This step verifies all parties are aware of potential loan fees, rates, LTV’s, and CLTV’s.)

Step #3 - Borrower

GFE, Loan Summary, and Condition list are returned signed by all borrowers. This starts the processing of the loan for a credit approval. Credit approvals are normally given within 48-72 hours after receipt of all requested documentation. (Delays in receipt of requested documentation will delay the loan process)

Step #4 - National Commercial Property Loans

Conditional Loan Approval is sent to the borrower for review and signatures. Payment type for appraisal will be made at this time. (Appraisals are only ordered after payment has been received).

Step #5 - Borrower

Signed Conditional Loan Approval, Appraisal order form, any required fees and Appraisal Payments are returned. Additional requested documentation is sent to National Commercial Property Loans.

Step #6 - National Commercial Property Loans

Appraisals are engaged for the subject property. (Return time for appraisal is 3 weeks or more from this date). Final loan underwriting is completed when all requested documentation is received by National Commercial Property Loans

Step #7 - Appraiser

Appraisal is returned to National Commercial Property Loans underwriters. (If appraisal has no issues DOC’s are ordered.) DOC’s are ordered and sent to escrow normally within 48-72 hours after receipt of appraisal.

Step #8 - Borrower

Borrower will bring any outstanding funds for closing and sign the final loan DOC’s

Step #9 - National Commercial Property Loans

Lender funds the transaction, title records and the transaction is complete

Please Call to Discuss Details
877.837.6489