How long to the closing of a loan?

Why use a mortgage broker?
How long will the process take?
When can I lock my rate?
How do lenders underwrite rental properties?
How can I minimize my prepayment penalty?
What is a yield-maintenance prepayment penalty and how is it calculated?
What are the biggest mistakes that borrowers commonly make?
How can you make your commercial mortgage closing go more smoothly?

How long will the process take?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

149 MADISON AVENUE | NEW YORK, NY 10016 | 212-532-1122 | FAX 212-532-1222 | INFO@WINTERANDCOMPANY.COM

Commercial Property Type: Multi-Family - Apartment Buildings | Mixed-use Properties | Co-op Underlying Mortgages & Credit Lines | Office Buildings | Retail Buildings | Warehouse - Industrial Buildings | Hotels - Hospitality | Self Storage | Net-Leased | Owner-Occupied | Commercial Co-ops & Condominiums | Specialty Properties

Commercial Mortgage Services Provided: Permanent Commercial Real Estate Loan | Bridge Loans | Construction Loans | Transitional Properties - Structured Finance | Mezzanine Financing | Credit Lines | Equity Financing | Joint Ventures | Development Consulting

Featured Commercial Mortgage Transactions | Commercial Real Estate Loan Checklists | Mortgage Forms and Applications | Commercial Mortgage / Finance Articles | About Winter & Company Commercial Real Estate Finance | Commercial Mortgage and Financing FAQ's | W Financial | Private Mortgage Investment | Commercial Mortgage Glossary | Site Map | Commercial Mortgage Links

Copyright © 2017 Gregg Winter | Red Zebra Design Associates. All Rights Reserved.