Probably the number one complaint of private money lenders is the upfront app fees, specifically, the fact that they are non-refundable and if you don't get approved you lose the money. Tens of thousands of people have lost app fees on deals that were not approved. We at Commercial Capital have heard the horror stories. So often we get deals and the borrowers tell us of the money lost chasing deals that were not deals. Like anything, when there is a lot of pain in an area, there is opportunity. So we are going to BREAK THE MOLD and offer REFUNDABLE APP FEES on our In-house Private money loans.
Call Now to Discuss Your Deal (512) 354-5949
We underwrite your deal and get terms out with a REFUNDABLE app fee, usually within 48 hours. If you sign the approval to move forward the money will then become non-refundable and will go towards expenses to close. If committee denies it, or you change your mind and don't want to move forward, you get the money back. Simple as that. We accept recent bank ordered appraisals, so THIS IS REALLY THE ONLY NO-RISK OPTION IN COMMERCIAL PRIVATE MONEY LENDING. The parameters of our private money fund:
We get initial approval within 48 hours, closings can happen in as quick as a week but usually we are 3 weeks to close.
Commercial Capital, Ltd
P.S. Does your loan need to close before year end? With holidays coming up, most lenders are already pushing back that they may not be able to close by year end. IF your loan is not already approved in underwriting, you may miss the year end. WELL WORRY NOT, we can close easily by year end. When it absolutely, positively must close, we are the surest bet in commercial. If we approve it, we close it. Period.