5 Steps to Closing a Loan with Channelside Mortgages
01. Application
Collect Application and application fee. Use the application on our website. Application fee needs to be delivered to WLW offices or paid online via credit card on our website. WLW will order the title once the application and fee have been delivered.
02. Term Sheet
Collect Application and application fee. Use the application on our website. Application fee needs to be delivered to WLW offices or paid online via credit card on our website. WLW will order the title once the application and fee have been delivered.
03. Loan Commitment Letter
Once both Borrower and WLW agree upon terms and a final term sheet, WLW will provide the borrower with a loan commitment, credible for 30 days. Admin will also provide CMA, rehab budget and game plan with a title report. If any title issues are outstanding borrower must resolve, then re-submit for final approval.
04. Final Term Sheet
After the evaluation has taken place. WLW capital will be able to complete and provide a term sheet with the final terms based on the value shown by the inspection.
05. Closing
Once HUD is approved; the closing can officially be executed. Channelside Mortgages must be additionally insured on all loans prior to closing.