A: Commercial loans require thorough evaluation of business financials, property assessment, and risk analysis to ensure the best terms for all parties.
A: While we maintain our thorough evaluation standards, having all required documents ready can help optimize the timeline.
A: Complex property types, multiple stakeholders, or additional documentation requirements may extend the standard timeline.
A: Typically, we require 2-3 years of tax returns, personal financial statements, property details, and any additional documents specific to the loan type. Your broker will provide a detailed checklist.
A: Your assigned broker will keep you updated at each phase of the process. You can also reach out directly to your broker for real-time updates.
A: If your application is denied, your broker will discuss the reasons with you and explore alternative financing options or adjustments needed to improve your application.
A: Some loans may require an appraisal or application fee. Your broker will inform you of any fees upfront so there are no surprises.
A: Yes, you can make changes, but it's best to discuss these with your broker as early as possible to avoid delays in the processing timeline.
A: Interest rates are based on several factors, including loan type, property value, creditworthiness, and market conditions. Your broker will explain the specifics for your situation.
A: The underwriter assesses the risk of your loan application by reviewing financial documents, property appraisals, and other relevant information to ensure it meets our lending criteria.
A: Typically, funds are disbursed within a few days after closing. Your broker will provide a more precise timeline based on your specific loan agreement.
Additional questions? Get in touch.