We know that considering taking out a loan of any kind
always leads to a number of questions. While we would
be happy to answer those questions in person or over the
phone, we have included a few of the most common
questions and their answers below for your convenience.
Once your requirements are
received, DCS will contact you to discuss your needs,
determine the appropriate lending solution for you, and help
you complete our simple loan application. Once your
application is submitted, a written Conditional Pre-approval
Letter will be issued within 48 hours, specifying:
Loan amount
Interest rate
Documents required for
underwriting
Documents required for
closing
Estimated fee for Appraisal
Send supporting documents. Your Loan Specialist will
determine what documents based on your loan program are
needed to process your loan. These may include bank
statements, tax returns, pay stubs, rent rolls and
operating statements.
Step 3: Processing
After your signed
Conditional Pre-approval Letter is received and appraisal
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 DCS is our 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
Step 4: Closing and Funding
After your loan is approved
and the terms have been finalized, it is time to close your
commercial loan!
At this time, here's what you can
expect:
We will prepare your loan
documents, send them to a closing agent in your area and
schedule a closing date. All your documentation will
be signed and the closing agent will arrange to disburse
your money.
Disbursement of funds!
The Direct Capital Solutions Advantage
From first contact to closing, our exceptional
team of
professionals guides you through our simplified lending
process. With reduced paperwork, accelerated processing, and
loan programs that meet a variety of needs, DCS is committed
to offering lending solutions that are unparalleled in the
commercial lending industry.
What are the minimum and
maximum loan amounts I can obtain?
DCS
specializes in securing commercial real estate loans ranging
from $100,000 to $50 million. However, on a case-by-case
basis, we will consider commercial loan clients whose real
estate financing needs fall above or below this range.
Does working with DCS decrease my
cost of financing?
Commercial loan clients typically do not incur additional
financing costs when they use DCS to manage their loan
transactions. Instead, they usually gain cost savings. It is
important to understand DCS’s role. First, DCS helps clients
assess and convey the merits of their real estate project
from the perspective of a commercial lender. Then
DCS
presents the project to a number of qualified lenders, which
enables us to gauge the rates and terms the market will
sustain. Most commercial lenders are willing to reduce their
origination and processing fees when they have an efficient
intermediary—such as DCS—expediting the loan acquisition
process. Thus, DCS can obtain compensation for its services
while reducing the cost—and, more importantly, the time and
effort—needed to complete the commercial debt financing
transaction.
How is using DCS different from
going directly to a bank?
DCS represents you—the borrower. Our responsibility is to
help you obtain the loans you want at the best rates and
terms possible.
Approved lending programs and underwriting requirements
limit what banks can and cannot do for a borrower. DCS is
free to consider as many real estate financing alternatives
as may be required to meet each client’s needs and
circumstances. Banks are also limited by quotas and
portfolio guidelines imposed by their management. As a
result, banks sometimes reject borrowers because of quota
requirements and not because of the merits of the borrower’s
project. DCS is not constrained by these factors. We are
free to deal with as many funding sources as we choose.
On another note, a borrower’s objective (minimizing cost) is
usually adverse to that of a bank (maximizing profits).
Therefore, in the absence of competition from other lenders,
banks typically attempt to push the envelope on the rates,
fees and terms they offer to
commercial borrowers. DCS tilts
the scales in favor of the borrower by reminding the lender
that our commercial loan clients have alternatives. When
banks obtain commitments from their commercial loan clients,
banks tend to place borrowers in queue and offer little or
no assistance in expediting the loan closing process. On the
contrary, DCS takes a hands-on approach to ensure that the
loan acquisition process is completed as quickly and
efficiently as possible.
How can I become a client of DCS?
To become a client of Direct Capital Solutions, simply call
us 804.353.0244 You can also email us
info@directcapitalsolutions.com and request a no-obligation loan consultation.
You can also complete and submit the
on-line Application and
we will contact you within 48 hours. We will assess your
real estate financing needs by conducting a preliminary
interview that lasts less than fifteen minutes. Once we are
comfortable in our ability to help you (and you are
comfortable in your decision to work with DCS.
How does DCS secure lenders for
clients?
A growing number of local and national lenders rely on
DCS
for a steady flow of qualified borrowers. These
relationships give real estate funding sources the
confidence they need to be decisive about the borrowers
DCS represents. Additionally, through our business
development efforts, DCS is able to reduce the customer
acquisition costs for commercial lenders who deal with our
company. These lenders are therefore eager to do business
with Direct Capital Solutions.
One of the biggest challenges real estate lenders face is
that of finding eligible borrowers with viable projects. Our
relationships with commercial lenders are vital to our
clients’ success because these lenders know the markets in
which they lend and are able to evaluate real estate
projects and make financing decisions quickly. On the other
hand, our relationships with commercial lenders from other
parts of the country can also help to reduce financing costs
for DCS’s clients. These out-of-town lenders are often eager
to enter new markets; however, they have no marketing
activities in those new geographic areas. That’s where DCS
comes in. We are constantly looking for lenders who want to
enter our service area. In short, commercial lenders
throughout the nation choose DCS because we are a viable
source of commercial lending for them.
How long does the loan acquisition
process take from start to finish?
Depending on the circumstances, commercial real estate loans
can take anywhere from 30 to 90 days to close (and often
they take much longer). DCS sets a target of 45 to 60
days—and is usually able to close loans for our clients
within that time.
What is my (the borrower’s) role in
the loan acquisition process?
As a borrower, your job is to provide the necessary
information in a timely manner, so that you do not stall the
loan process. Some of the documentation you may be required
to provide include: financial information about the borrower
and the guarantors (if applicable), a real estate project
summary, market analysis of your project, industry analysis
pertaining to your project, a well-written business plan,
experience and qualifications of the management team,
architectural renderings and a host of other information.
DCS can help you complete the documentation and meet the
requirements of the commercial lender in a timely and
cost-efficient manner.
What are the advantages of using DCS as my commercial loan broker?
