Our Simple Step-by-Step Loan Process
We keep our loan process as quick and straightforward as could reasonably be expected with the goal that you can verify your hard cash and begin on your next task. With negligible archives and the quickest guaranteeing process in the business, we can get you to shutting rapidly and productively. Here is the step by step procedure break down:
1- Submit Application
Simply submit your online Application form on the web and one of our loaning specialists will respond to you quickly to examine the venture and your individual or investment needs.
2- Project Breakdown
Subsequent to talking about your needs and objectives for your project, your loaning agent will break down the arrangement by taking a gander at comps, potential value, and your experience as an investor.
3- The Terms
The District Capital takes pride in providing their clients with a fully transparent transaction. Your business is conducted with full adherence to industry best practices and compliance standards. All loan terms are reviewed with a licensed agent prior to origination.
4- Document Collection
When you have endorsed the Terms Sheet, our handling group will gather any LLC, individual, or task archives expected to carry you to closing. Now, your officer will work with you to build up a draw schedule (if your loan includes construction draws) and an evaluation will be requested.
5- Loan Closing
After all the necessary documents are collected and the property title is clear, you can close on the property and begin your project.
After you close on the property, construction can begin. If construction draws are included in your loan, draws will be released after you complete each milestone of your project after your progress has been confirmed by an inspector.
After construction has been completed, it’s time for you to sell or refinance the property. In the case that additional time is needed to sell the property or complete construction, you can request an extension of your loan to ensure that you are receiving maximum profits.