Lending Process

The Lending Process

Washington Commercial Lending and Development Makes The Lending Process Easy!

Call US at 703-350-4339 to get started

Our hard money loan process has five easy steps:

STEP ONE: Call Us (703) 350-4339:

We need to have a brief conversation about your project first. You can describe your project to us and we can tell you if it meets the criteria for our loans. If it does, then we can start the lending process. Once we determine on the phone that you are a good candidate for our hard money loans, it is very likely that we will be able to fund your project, as long as the documents we ask you to provide match what you told us over the phone!.

Complete and submit the Initial Loan Application  on this website. Once submitted, your Initial Application will be quickly reviewed by our pre-approval team and you will be told what loan terms can be offered in your particular situation. If appropriate, we will issue a Letter of Intent and/or Loan Commitment based upon the facts of your Initial Application. If you are not an appropriate candidate for a hard money loan, or we cannot help you, and you will be told that immediately.

STEP TWO: Application/DOCUMENTS/Appraisal:

You need to complete our one page application. You can either download the pdf file and fill out with pen or complete the application on this website (Loan Application).

You need to submit this application to us along with a check for the commitment fee, doc prep fee, and (if needed) the appraisal.

We will ask you to provide additional information and documentation including, but not limited to, the following items:

  • Copy of Sales Contract and any deposit check(s)
  • Copy of Driver’s License
  • Detailed list of proposed repairs and draw schedules, including material and labor costs and copies of any contractor estimates or contracts
  • Copies of any appraisals or inspection reports of the Property; * If you are an entity borrower, you will need to provide copies of all your corporate documentation
  • Addresses of any cross-collateral property
  • If needed an appraisal will be ordered

STEP THREE: Commitment Letter/Doc Preparation/settlement:

Upon successful appraisal and evaluation of your documents by our attorney, we will issue a firm commitment letter. You can use this commitment letter to schedule the settlement.

Loan funds will be made available to you through a closing/settlement with a title company, AFTER you have provided evidence of General Liability Property Insurance in an amount equal to the total loan amount. If you are doing rehab work, you may be required to obtain a Builder’s Risk Policy, and if the work is being done by a contractor, he or she must provide a copy of their General Liability Insurance and Proof of Workmen’s Comp Insurance. You will be responsible for all closing and insurance costs. If you are in the negotiation process, we encourage you to get the Seller to contribute as much as possible toward closing costs. The lender will not care and it will keep your “in” costs as low as possible.


If your hard money loan is a rehab/construction loan, you will most likely have to establish a construction escrow with us. Generally we require 3-4 draws. At each completion phase, you must call us to have a property inspection arranged. Once approval is obtained and/or mechanic’s lien waiver executed, we will release the draw. The final draw is NEVER released until the project is completed. You will be responsible for construction draw inspection fees, which is $250. These fees must be paid either at time of inspection, or sometimes up-front at settlement.


Within the pre-determined loan term, you must sell or refinance the property. If you planned and executed your acquisition and exit strategy appropriately, you should be walking away from the project with a big payday.  If you were not able to sell your property before the loan term, you must contact us 30 days in advance to get an extension. Base on your circumstance we will inform you of our decision to extend the loan within 5 business days.

Our lending process is very streamlined, and once you do one you will realize how easy it is to get hard money loans from us.

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