• Parallel Processing

Step 3: Parallel Processing

After your signed Conditional Pre-approval Letter is received and Appraisal fees have been remitted, the underwriting process will begin.

Through our simplified commercial loan process, we're able to close your commercial loan in fewer than 45 days. Central to this speed, and unique to Commercial Direct is our Parallel Processing. Through this, our Appraisal, Title and Environmental Due Diligence efforts are done simultaneously, saving you time and money.

During this step:

• Appraisal is engaged
• Title is ordered
• Loan is reviewed

What You May Need:
*These documents are not needed when applying for a CD Express loan.

• *Last 2 months bank statements, plus recent statements from stocks, bonds, mutual funds, as well as any retirement funds such as 401(K) and IRA. This information is used to determine the availability of liquid assets.
• *Last 2 years personal tax returns, W-2/1099 and business tax returns (or Profit & Loss if tax return not available). These documents contain information we use in processing your loan request.
• *Pay stubs for the last 30 days prior to closing.
• Last 12 months payment history for your primary residence and subject
  refinance loan.
• Schedule of rental properties owned indicating amount of liens, gross rental income, operating expenses (including taxes and insurance), and current
  mortgage payments.

We will work closely with you to collect the appropriate documents, keep you updated on your commercial loan, and ensure it closes in a timely and professional manner.

Next Step: When the Parallel Processing of your commercial loan request is complete, your loan will move on to Step 4: Closing and Funding.