Covid-19 Update

Please make copies of the loan application to have on hand for future deals.

1. Submit ONLY the loan submission form via email or fax. Do not submit our application until your submission is reviewed. Thank you for your cooperation.
2. We will give you a loan amount.
3. We will fax or email you the paperwork to fill out regarding your credit and property information.
4. We will request that you provide us a current credit report, and go to inspect your property. Property inspection fee for condos, townhomes and single family homes is $150 and is payable at time of inspection. An administration fee and document preparation fee payable to our law firm which totals $700, will be added to your closing costs. (Please note that in some cases, these fees will be higher.)
5. Rush Closing Fees: 100k loan value or less, fee is $1,000. Loan value over 100k fee is 1 point. All rush closing fees are due at the time the file is opened and are non-refundable.
6. REO Notary/Closing Fee $200. Fee may increase due to travel time &/or closing after hours.
7. We do not loan to individuals, loans are business loans for investment purposes only. *WE DO NOT LOAN TO OWNER OCCUPANTS.* We do loan on commercial property.
8. You must have a valid Corporation or LLC and a FEI # at time of application. *All borrowers must have filed their 2017 annual report with the State. *If borrower is an LLC, please submit operating agreement or a resolution clearly stating who is authorized to sign loan documents on behalf of company. Resolutions must be notarized within the last 6 months. *If borrower is a Corporation, a resolution specifically stating that the president of the corporation is authorized to sign the loan documents. Resolutions must be notarized within the last 6 months. *Resolutions must be signed by all shareholders * signed in presence of a notary.

Borrower Checklist for Closing - You will need to bring these items to closing:

1. Hazard and Wind insurance that covers vacant property and proof of payment, insurance must be pre-paid for one year, please fax or e-mail this document to us 24 hours prior to closing for our review. *Please Note: On refinances, if your property is not insured, the closing will be delayed for 30 days.
2. Flood Insurance if your property is east of I-95.
3. Your cashiers check or wire for the closing cost due.
4. Your corporate seal and tax id number for your entity.
5. Your driver’s license.

The Closing Process

1. Fax or e-mail the full application, executed contract, title company information and recent credit report (if you have one) otherwise we’ll pull it for you. Please call to confirm receipt of all information faxed. Fax to 954-354-1010, email to nancy@daviddweck.com.
2. After the property inspection and all your paperwork has been faxed to us we will give you a loan commitment which includes the loan amount, percent, and points.
3. The title company will start their lien search to obtain clear title (estimated time is 10-14 days). You will need to provide how you are purchasing the property, i.e. corporation, trust, LLC and who is the president of the entity. You must also provide the buyers name, phone, fax and address, the sellers name, phone, fax and address, any real estate agents names, phone, fax and addresses and anyone who will be attending the closing to provide to them with the location and time of the closing.
4. Once the title company has obtained clear title they will fax us a title commitment and we will close shortly.
5. We will prepare the mortgage documents.
6. We will confirm with the title company the closing date and time.
7. One of our representatives will attend the closing.