Timing is very important when making a loan and this is something that every loan rep or broker knows. If you want a deal to be closed, it mostly depends on perfect timing. The approval of a loan is closely associated with perfect timing.
The problem is that sometimes borrowers are not able to get all the needed documents on time. You need not wait long until everything gets approved but it will involve hard work on your part.
Getting you loan approved involves accessing information on the internet and using it to your advantage. People are not yet aware that internet information can actually help process your commercial loans quickly.
The key item that underwriters will need is the picture of a property. They have no reason to wait for a borrower to submit a picture. Using maps on the internet will allow you to check on a property online.
Street and aerial property views are available in map tools online. Just simply clicks will allow you to send pictures to the underwriter in no time. Don’t send out of date pictures. Pictures come with dates and it is important to take note of the date on the picture. You can provide the lender with more recently property photos after submitting old ones, and this is when they are already initiating the approval process for the loan.
In order for the underwriter to push further for your loan approval, you need to give copy of your property details. If you somehow don’t have any of these property details, you can now use online tools to help you find the data required on your property, and here you can find property details like its history, its area, parcel size, tenants, tax history, and some other pertinent data. You can get information from this tool without paying any fee. This tool also has a filter to help your differentiate good deals from bad ones.
If you want your commercial loan to be approved in short period of time, make sure you provide everything that is required of you, from property pictures to relevant property information and other technical details, and you need to submit them on time. With simple mouse clicks all these requirements will be available to you.
You can recommend these resources to people who need paperwork to provide to their underwriter for the speedy approval of their commercial loan application.
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