how Our loan process


The following are the basic steps that take place during our loan underwriting process.

Step 1:  Initial contact by broker or borrower by phone, email or fax.

  1. Review the completed on-line Quick Loan Submittal form.
  2. Phone discussion with broker or borrower about their funding needs.
  3. Direct Commercial Capital receives the information outlined in Loan Application Check list.
  4. Direct Commercial Capital conducts initial review of all information submitted (gives preliminary indication of loan looks “fundable”)

Step 2: Direct Commercial Capital establishes a Loan Application file.

  1. Direct Commercial Capital issues a conditional term sheet and good faith deposit estimate.
  2. Borrower returns signed term sheet and wires good faith deposit.
  3. Direct Commercial Capital orders title report, appraisal, broker price opinion, credit report and environmental report.

Step 3: Direct Commercial Capital underwrites the loan.

  1. Complete and review underwriting and determine if loan continues to look “fundable”.
  2. On-site property inspection is scheduled.
  3. Loan commitment decision is made.
  4. Broker or Borrower is notified of loan decision.
  5. Upon approval, loan commitment letter to broker or borrower is sent for signature and closing process begins.
  6. For loans not funded DCC will refund the good faith deposit less all associated costs to applicant if applicable (NO underwriting or processing fees charged).

Step 4: Loan Closing

 
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