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Loan Closing Process

Loan closing (settlement) generally occurs at a title company office, although it also frequently occurs at an attorney’s office. At the close, there are typically two transactions that occur simultaneously – the property purchase and the loan closing. We will have reviewed all the necessary documentation prior to the close, so there will be minimal complexity or stress at the
settlement table. Our borrowers/guarantors will be required to sign a variety of loan related documents which will include (but are not limited to) a mortgage (lien attachment), note (promise to repay), security agreement (LLC agreement), personal guarantee (additional security to us), an investment affidavit (a promise that the property is not intended for personal use) and an assignment of rents and leases.

Our attorney will have prepared the loan documents previously which can be reviewed by you prior to signature, but not negotiated. We will have already sent loan proceeds to the settlement agent, so after all the documents are signed and reviewed by the various parties to
the loan, we will approve disbursement of loan proceeds to the escrow agent for future draw disbursement, or to the seller of the house, or directly to the borrower.

Loan Pre-Qualification