Make no mistake, there's a lot involved in getting a commercial mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. What we do is do most of the heavy lifting for you, so you can concentrate on other important matters.
There are four main steps involved in getting a loan. You'll see that we've made your part in them as easy as possible, and we do all the work! That's what we're here for.
Step one: determine how much you can borrow
This is a function of a couple things. The net operating income of the property.The experience of the borrower .The past performance of the property.Your unique credit history,overall income and debt, are all issues that a lender will assess in determining a loan . The first part you can get a rough idea of by using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.
Step two: pre-qualify for your loan
This is where the rubber meets the road and you save the most money. You supply information about your project with a complete loan package(tax returns, assets, income&expense statement,leases.etc.). We get your permission to run your credit score. We then review all this information,process it, and submit it to the underwriter.The underwriter will review your loan application and contact us should there be any issues or questions.If all meets the approval of a "first blush" review,the lender will issue you a "term sheet".We review the offering, negotiate any items in the offering,and convert the term sheet to a "commitment letter"
Step three: apply now! We make it easy
Once you've decided to proceed with your acquisition or refinance, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here at our website. When the time is right, we'll order an appraisal of your property
Step four: your loan is funded
We'll coordinate with you & your attorney to make sure all the papers the lender will need are in order, and you'll sign everything at the lender's designated site for the closing of your loan.
You've answered a few questions, given us some detailed information, applied online, and next thing you know, you're closing your loan! We're in the business of commercial mortgage loans, you're not -- so we do most of the work. Doesn't that make sense?
NEW CAPITAL SOLUTIONS, LLC 8 Echo Lane Greenwich, CT 06830
