The closing process
The closing course: the stages of a file in order, what separates a term sheet from a commitment and a clear-to-close, the three long poles of appraisal, title and insurance, how to clear conditions fast, what happens on closing day, and how quickly a DSCR loan can realistically fund.
6 LESSONS · 26 MIN · 0/6 DONE
- 8.1
1. Application to funding
The file's journey in order: application, term sheet, processing, underwriting, conditions, clear-to-close, closing and funding.
4 MIN
- 8.2
2. Term sheet vs commitment vs CTC
Three documents borrowers confuse — what each one promises, what conditions it, and which one you can actually rely on.
4 MIN
- 8.3
3. The three long poles
The three items that run on their own clocks, outside the lender's control, and usually decide when a DSCR file actually closes.
4 MIN
- 8.4
4. Clearing conditions
Prior-to-doc versus prior-to-funding conditions, and the small formatting defects that send a document back unread.
4 MIN
- 8.5
5. Closing day
What you sign, how the wire moves, when funding happens, recording, and the servicing transfer that follows.
5 MIN
- 8.6
6. How fast it closes
21 to 30 days from a signed term sheet, what gates each stage, what you can do to hit the short end, and what blows the schedule.
5 MIN · REFERENCE PAGE