Closing your loan:
After your Loan Commitment is issued, mutually executed, the commitment fees are wired to the lender, and the rate is locked, you are now ready to sign the final loan closing documents. You must review the loan documents prior to or at signing. Make sure that the locked interest rate and the loan terms are what you were promised. They should be exactly as promised at rate lock. Also, it is extremely important to verify that the name and address on the loan documents are accurate. Signing takes place in front of a notary public. It can be done using a mobile notary at your place of business. Of course, you can also sign at escrow/title company. Or, if you prefer, we can even schedule your signing at your residence after business hours!
Of course, there are several fees associated with obtaining a mortgage and transferring property ownership which you will be expected to pay at closing. In the case of a purchase/acquisition loan, you may be required to take a cashier’s check for the down payment and closing costs with you to closing. Personal checks are normally not accepted. You also will need to verify that the proper insurance policy is in place, and any other requirements such as flood insurance, plus proof of payment.
Your loan will normally close shortly after you have signed the loan documents. Remember, on commercial refinance loan transactions, the transaction can close right after signing and recording. There is no three (3) day Right of Rescission before your commercial loan transaction can close. A commercial loan is unlike a 1-4 unit residential transactions that fall under the federal laws of RESPA. RESPA allows for a 3-day right of rescission.
- Adjustable Rate Mortgage
- Aircraft Financing Terms & Loan – Complete Guide
- Alienation Clause – Everything You Need to Know
- ARM Components
- ARV – After Repair Value – Everything You Need to Know
- Assignment Clause – Everything You Need to Know
- Average Daily Rate (ADR) Formula – Complete Guide
- Balloon Mortgages
- Blanket Mortgage
- Cap Rate Simplified for Commercial Real Estate (+ Calculator)
- Cash Coverage Ratio | Complete Guide + Calculator
- Cash Out Refinance on Investment Property – Complete Guide
- Closing Costs
- CMBS Loans: Guide to Commercial Mortgage-Backed Securities
- Commercial Adjustable Rate Loan Indexes
- Commercial Real Estate Appraisals – Everything You Need to Know
- Commercial Real Estate Syndication – Ultimate Success Guide
- Contingency Reserve – Everything You Need to Know
- CRE Loans – What Nobody Tells You About Commercial Lending
- Cross Default – Everything You Need to Know
- Debt Service Coverage Ratio
- Debt vs Equity Financing
- Debt Yield
- DIP Financing
- EBITDA Margin – Ultimate Guide
- Effective Gross Income (+ Calculator)
- Equity Kicker – Everything You Need to Know
- Fixed Rate Loans
- Full Service Gross Lease – Everything You Need to Know
- Gap Funding Commercial Real Estate – Pros & Cons
- Ground Lease – Everything You Need to Know (+ Calculator)
- Guide to Floor Area Ratio, Floor Space Index & Plot Ratio
- Hard Costs vs Soft Costs – Commercial Real Estate Guide
- Hard Money vs Soft Money Loans in Real Estate
- How Much to Borrow
- Hybrid ARM
- Hypothecation Agreements – Everything You Need to Know
- Industrial Gross Lease
- Intercreditor Agreements – Everything You Need to Know
- Interest Only Mortgage
- Lines of Business
- Loan Defeasance
- Loan Proceeds – Everything You Need To Know
- Loan to Cost Ratio
- Loss to Lease – Everything You Need to Know
- Market Links
- Master Lease Agreements
- Master Planned Communities
- Mergers & Acquisitions Seller Intake Questionnaire
- Mergers & Acquisitions Buyer Intake Questionnaire
- Mini Perm Loan – Complete Guide
- MIRR Guide | Modified Internal Rate of Return (+ Calculator)
- Modified Gross Lease – Everything You Need to Know
- Mortgage Programs
- Net Effective Rent (+ Calculator)
- Net Income and NOI
- Net Leases (Single, Double, Triple)
- Operating Expense Ratio – Ultimate Guide (+ Calculator)
- Pari Passu – Everything You Need to Know
- Partially Amortized Loan – Complete Guide
- Potential Gross Income – Everything You Need to Know
- Preferred Equity in Real Estate – Complete Investor’s Guide
- Preferred Shares – Everything You Need to Know
- Property Interest – Everything You Need to Know
- Recourse Loans – Complete Guide
- Restrictive Covenants – Everything You Need to Know
- Reverse 1031 Exchange – Everything You Need to Know
Ronny was a pleasure to work with and is extremely knowledgeable. His hard work was never ending until the job was done. They handled a complex lease and guided us through entire process, including the paperwork. Not to mention a below market lease rate and more than all the features we needed in a site. We later used Assets America for a unique equipment financing deal where once again Ronny and team exceeded our expectations and our timeline. Thank you to Assets America for your highly professional service!
Great experience with Assets America. Fast turn around. Had a lender in place in 30 minutes looking to do the deal. Totally amazing. Highly recommend them to anyone looking for financing. Ronny is fantastic. Give them a call if the deal makes sense they can get it funded. Referring all our clients.
Assets America guided us every step of the way in finding and leasing our large industrial building with attached offices. They handled all of the complex lease negotiations and contractual paperwork. Ultimately, we received exactly the space we needed along with a lower than market per square foot pricing, lease length and end of term options we requested. In addition to the real estate lease, Assets America utilized their decades-long financial expertise to negotiate fantastic rates and terms on our large and very unique multimillion dollar equipment purchase/lease. We were thankful for how promptly and consistently they kept us informed and up to date on each step of our journey. They were always available to answer each and every one of our questions. Overall, they provided my team with a fantastic and highly professional service!
Assets America was responsible for arranging financing for two of my multi million dollar commercial projects. At the time of financing, it was extremely difficult to obtain bank financing for commercial real estate. Not only was Assets America successful, they were able to obtain an interest rate lower than going rates. The company is very capable, I would recommend Assets America to any company requiring commercial financing.
Assets America was incredibly helpful and professional in assisting us in purchasing our property. It was great to have such knowledgeable and super-experienced, licensed pros in our corner, pros upon which we could fully rely. They helped and successfully guided us to beat out 9 other competing offers! They were excellent at communicating with us at all times and they were extremely responsive. Having them on our team meant that we could always receive truthful, timely and accurate answers to our questions. We would most definitely utilize their services again and again for all of our real estate needs.
Assets America is a great company to work with. No hassles. Recommend them to everyone. Professional, fast response time and definitely gets the job done.
Ronny at Assets America has been invaluable to us and definitely is tops in his field. Great experience. Would refer them to all our business associates.
We were very pleased with Assets America’s expertise and prompt response to our inquiry. They were very straight forward with us and helped a great deal. We referred them to all our business associates.
I’ve worked with this company for decades. They are reputable, knowledgeable, and ethical with proven results. I highly recommend them to anyone needing commercial financing.
Ronny was incredibly adept and responsive – top-notch professional who arranged impressive term sheets.
Assets America helped us survive a very difficult time and we most definitely give them 5 stars!
Ronny was very friendly and though we were unable to make something happen at the moment he gave me some direction to go.
My business partner and I were looking to purchase a retail shopping center in southern California. We sought out the services of Ronny, CFO of Assets America. Ronny found us several commercial properties which met our desired needs. We chose the property we liked best, and Ronny went to work. He negotiated very aggressively on our behalf. We came to terms with the Seller, entered into a purchase agreement and opened escrow. Additionally, we needed 80 percent financing on our multimillion-dollar purchase. Assets America also handled the commercial loan for us. They were our One-Stop-Shop. They obtained fantastic, low, fixed rate insurance money for us. So, Assets America handled both the sale and the loan for us and successfully closed our escrow within the time frame stated in the purchase agreement. Ronny did and performed exactly as he said he would. Ronny and his company are true professionals. In this day and age, it’s especially rare and wonderful to work with a person who actually does what he says he will do. We recommend them to anyone needing any type of commercial real estate transaction and we further highly recommend them for any type of commercial financing. They were diligent and forthright on both accounts and brought our deal to a successful closing.