Commercial Mortgage Fund, LLC prides itself on its ability to close loans on a timely basis. In the event of an emergency, we may be able to close within ten days. However, the following timeline is representative of a typical loan schedule.
Procedure
Days
1. Initial review of required documentation
1
2. Issuance of letter of intent and request for additional information
2
3. Loan write up and approval by loan committee
2
4. Issuance of commitment
1
5. Ordering, receipt and review of appraisal, title insurance, environmental assessment, inspections, loan documents and regulatory approvals
14
6. Review of appraisal, title commitment, environmental assessment and other requested information
2
7. Closing
1
Commercial Mortgage Fund, LLC • 8300 Norman Center Drive, Suite 720 • Bloomington, MN 55437
