 How long will the process take?
Assuming that the Borrower has made a
decision to proceed and has delivered
all the key
documents needed to underwrite the
loan to the broker, 60-120 days
would be the
typical range. Going from "first phone
call" to a closing in 60 days
requires smooth choreography among
all the parties.
All key players from the borrower, the mortgage
broker, the borrower's attorney, the title
company, to the bankers, the bank's attorneys,
the appraiser, engineer and environmental consultant
need to be kept in forward motion because if
any player drops the ball, the whole schedule
can and will go awry. The most typical time
frame to close a commercial mortgage is somewhere
between 90 and 120 days.
Occasionally, an investment opportunity may
present itself to an investor that must
be acted upon very quickly. Our affiliated
company,
W Financial. is
a direct private lender capable of closing
on a transaction
in as little
as one week. Learn more about W Financial
by visiting: W Financial
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