Qualification is based on the Loan to Value (LTV), DSCR (Debt Service Coverage Ratio), Capitalization Rate, and other additional criteria. Essentially, we want to see if the deal will make sense for a prospective lender. We will determine if your project is viable to fund through some fundamental information gathering and a discussion with you.

If we determine a realistic possibility of a deal, it’s time to collect all of the pertinent documents needed to build the application package. Usually, this segment of the process can take some time, as not all the documentation or information is ready or available upfront. Unlike some mortgage agents who may just pass your information along, we do a detailed pre-underwriting of the commercial property deal. This pre-emptively enables us to discuss with you any further findings that could hold up or disqualify your proposal before it even gets to the Lender, and your chances of closing the deal are much improved.

Getting the right lender/investor with the proper funding criteria for your deal is crucial. Not all lenders will consider your loan proposal if it has been over-shopped or doesn’t fit their criteria. We find the best arrangement for you and the Lender, based on your scenario.

If a particular lender/investor is interested in funding the deal, they will issue a Letter of Intent, including some basic non-negotiable Terms and Conditions. You have an option to accept or refuse those proposed Terms & Conditions. If you agree with them, the Lender will ask for additional information and details to prepare a full commitment to fund the real estate deal.

You’re almost there! The Closing happens when the lawyers coordinate the mortgage funds & disbursements for the commercial property. All parties are paid, and legal fees, property taxes, etc., are disbursed. The deal or transaction is complete, and you receive the funds you were pursuing.