The lending process varies based on the acuracy of the information provided. Some lenders can close in 5-10 days for hard money. Typically, the process takes 30-60 days.
Construction loans will take longer. Much of the delay is because of third party reports and verification of borrower's documentation.
Most lenders will not engage in any deal that has multiple brokers.
The fees on some larger deals can justify more that 2 intermediary parties.
We can work around this by working with a shared fee agreement and allowing the lender to work directly with the principles.
Depending on the loan amount, we charge 1-2% of the total loan amount for debt financing, paid at closing. Equity deals are more.
We do not charge upfront fees and most of our lending sources do not charge upfront fees.
Commercial Loan Consultants and Associates are independent agents representing our company using us as a resource to find money and process loans.
If you are interested in working with us in this capacity please visit our CAREERS PAGE.