Do I sign at a table with the lender present?

No. Signing is typically with a notary at the title or escrow company; the lender is not usually present in person.

When exactly do funds get released?

After the lender's wire clears into escrow and escrow confirms the file is complete — same day as signing or the next business day, depending on cut-off times.

How do I know wiring instructions are real?

Call a phone number you already have for the title company, not one from an email, and verify the instructions verbally before sending any funds.

Who services my loan after closing?

You will receive a formal servicing transfer notice naming the new servicer; keep it and verify it independently before sending payments there.

Does recording happen the same day as funding?

Not always. Recording depends on the county recorder's office and can take from the same day up to several weeks.

LESSON 5 OF 65 MIN READ

What actually happens on closing day for a DSCR loan?

On closing day you sign the note, the security instrument (a mortgage or deed of trust), a closing disclosure or settlement statement, and a set of entity and business-purpose certifications, generally in front of a notary at the title or escrow company. The lender wires loan proceeds to escrow, escrow disburses to the seller or payoff lender and pays closing costs, and the deed or mortgage is sent to the county for recording. Funding can happen the same day as signing or the next business day depending on wire cut-off times, and within the following weeks you will typically receive a servicing transfer notice naming who to send payments to.

THE NUMBERS

Minimum DSCR	0.75 (0.75–0.99 prices at +62.5 bps, 70% LTV cap)
Maximum LTV	80% purchase or rate-and-term · 75% cash-out
FICO floor	660 (below that the desk does not lend)
Loan size	$100K – $3M single · $10M portfolio
Reserves	6 months PITIA · 12 months on a portfolio
Prepay options	5-4-3-2-1 par · 3-2-1 +25 bps · 1-yr +50 bps · none +87.5 bps
Typical days to close	21–30 days from a signed term sheet
Rate sheet	Silt Rate Desk — Market Composite Sept 2026 · effective 2026-09-01

ILLUSTRATIVE — published program floors, not a quote or a commitment to lend. Subject to underwriting, appraisal and final credit approval.

What you actually sign

The core documents are the promissory note, which is your personal promise to repay, and the security instrument, which pledges the property as collateral and gets recorded against the title. Alongside those sit a closing disclosure or settlement statement itemising every cost, a business-purpose and occupancy affidavit confirming the property is not owner-occupied, and entity certifications confirming the signer has authority to bind the LLC. Because this is a business-purpose loan, the consumer TRID disclosures used on an owner-occupied mortgage generally do not apply — the documents differ from what a homebuyer signs, and the closing disclosure format used varies by lender and title company.

How the wire actually moves

The lender wires the loan proceeds to the title or escrow company's trust account, not directly to the seller or the borrower. Escrow then disburses from that account to the seller (on a purchase), to the prior lender (on a refinance payoff), and to the various parties owed closing costs — the title company, the appraiser, any real estate commission. Wire fraud targeting real estate closings is a real and ongoing risk; always confirm wiring instructions by phone using a number you already have, not one contained in an email, before sending any funds yourself.

Funding versus signing

Signing and funding are not always the same moment. In many states signing happens first and funding follows once the title company confirms the file is complete and the wire clears before that day's cut-off — commonly the same business day, sometimes the next. Recording of the deed or mortgage typically happens after funding, at the county recorder's office, and can itself take anywhere from same-day to several weeks depending on the county, which is a title and public-record matter rather than a loan condition.

What happens to your reserves and escrow at closing

If the loan escrows taxes and insurance, an initial deposit is collected at closing to seed that account, on top of the six months of PITIA reserves verified earlier in the file — reserves are proof of liquidity checked before closing, not funds collected at the table. Whether escrowing is required or optional varies by lender and by loan-to-value; ask the desk directly which applies to your file before assuming either way.

The servicing transfer

Very few loans are serviced by the same company that funded them for the full term. Within a period after closing, you should receive a formal notice — separate from the original lender — naming the new loan servicer and where to send your first payment. Federal rules generally require this notice before the first payment is due and provide a grace period before a payment sent to the wrong party can be treated as late; keep both notices until the transfer is confirmed and never assume it is legitimate without verifying independently if anything about it looks unusual.

What to do in the days after closing

Confirm the deed or mortgage has recorded by checking with the title company or the county recorder, set up your payment method with the correct servicer once notified, and keep a copy of the full closing package for your own and your CPA's records. Questions about how the transaction should be reported for tax purposes belong with your accountant, not the lender.

A closing day, hour by hour

Morning	Final numbers confirmed against the clear-to-close
Signing appointment	Note, security instrument, disclosures, affidavits signed and notarised
Documents returned to escrow	Same day
Lender wire sent	Same day, before cut-off
Escrow disburses	Same day or next business day
Funding confirmed	Same day or next business day
Deed sent for recording	Same day or next business day
Recording confirmed	Days to weeks, county-dependent
Servicing transfer notice	Typically within a few weeks of closing

Illustrative sequence only. Exact timing depends on the title company's process, wire cut-off times, and the recording county.

WHAT WE NEED FROM YOU

Government-issued ID. For notarisation of every signer.
Verified wiring instructions. Confirmed by phone using a known number, never from an email alone.
Closing disclosure or settlement statement. Review it against the last commitment terms before signing.
Entity authorisation. Confirming the signer's authority to bind the LLC.
Proof of insurance in force. Often required at or just before the table.

FREQUENT QUESTIONS

Do I sign at a table with the lender present?: No. Signing is typically with a notary at the title or escrow company; the lender is not usually present in person.
When exactly do funds get released?: After the lender's wire clears into escrow and escrow confirms the file is complete — same day as signing or the next business day, depending on cut-off times.
How do I know wiring instructions are real?: Call a phone number you already have for the title company, not one from an email, and verify the instructions verbally before sending any funds.
Who services my loan after closing?: You will receive a formal servicing transfer notice naming the new servicer; keep it and verify it independently before sending payments there.
Does recording happen the same day as funding?: Not always. Recording depends on the county recorder's office and can take from the same day up to several weeks.

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