Once your requirements are received, your Commercial Loan
Specialist will contact you to discuss your needs, determine the
appropriate lending solution for you, and help you complete our
simple loan application. Once your application is submitted, a
written Conditional Pre-approval Letter will be issued within 48
hours, specifying:
Loan Amount
Interest Rate
Documents required for underwriting
Documents required for closing
Estimated fee for Appraisal
Send supporting documents. Your Commercial Loan Specialist
will determine what documents based on your loan program are needed
to process your commercial loan. These may include bank statements,
tax returns, pay stubs, rent rolls and operating statements.
Processing:
After your signed Conditional Pre-approval Letter is received and
Appraisal fees have been remitted, the underwriting process will
begin.
Through our simplified commercial loan process, we're able to
close your commercial loan in fewer than 45 days. Central to this
speed, and unique to IWDC is our Parallel
Processing. Through this, our Appraisal, Title and Environmental D
ue Diligence efforts are done simultaneously, saving you time
and money.
During this step:
Appraisal is engaged
Title is ordered
Loan is reviewed
What You May Need:
Last 2 months bank statements, plus recent statements from
stocks, bonds, mutual funds, as well as any retirement funds
such as 401(K) and IRA. This information is used to determine
the availability of liquid assets.
Last 2 years personal tax returns, W-2/1099 and business
tax returns (or Profit & Loss if tax return not available).
These documents contain information we use in processing your
loan request.
Pay stubs for the last 30 days prior to closing.
Last 12 months payment history for your primary residence
and subject refinance loan.
Schedule of rental properties owned indicating amount of
liens, gross rental income, operating expenses (including taxes
and insurance), and current mortgage payments.
IWDC will work closely with you to collect the
appropriate documents, keep you updated on your commercial loan,
and ensure it closes in a timely and professional manner.
Funding & Closing
After your loan is approved and the terms have been finalized,
it is time to close your commercial loan!
At this time, here's what you can expect:
We will prepare your commercial loan documents, send them to
a closing agent in your area and schedule a closing date. All your
documentation will be signed and the closing agent will arrange
to disburse your money.
Get pre-approved and speak to a Commercial Loan Specialist today.
Pre-approval is free and has no obligations. It's the fastest and
easiest way to learn the best options for you, and the first step
to receiving the cash you need.
Call 1(800)470-8169.
Fill Out The Form Below For a Commercial
Loan Officer to Contact You
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