After your signed Conditional Pre-approval Letter is received and Appraisal and environmental analysis (if required) fees have been remitted, the underwriting process will begin.
Through our simplified loan process, we're able to close your loan within 30 to 45 days. Central to this speed, and unique to Prudential Capital 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 loan.
- Personal Financial Statement (we will supply you with the pertinent form)
- Interim corporate financial statements (3 months old or newer)
This information is used to determine the availability of liquid assets.
- Last 3 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.
- 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 loan, and ensure it closes in a timely and professional manner.
Next Step: When the Parallel Processing of your loan request is complete, your loan will move on to
