The Loan Process

overviewAn overview of the loan process
Thank you for submitting your loan application with us. At DHLC Investments, Inc. we're committed to providing you with the highest level of service and satisfaction. As part of our ongoing efforts, you'll be receiving daily status reports from us showing the progress and current status of your loan.

You can also return to our web site at any time to view status. Just select the 'Customer Login' link from our menu and enter the userID and password you created when starting your application.

Please review the following items that we need immediately in order to complete the transaction in a timely manner. We want to meet your closing date!

1. Contract fully executed

2. Scope of Work; Please fill out and submit via email the Scope of Work Spreadsheet found here, AND have your General Contractor or Sub Contractors submit their bids to you so you can send them all to us.
NOTE: Once the Loan has closed you CANNOT deviate from the "Approved" Scope of Work! If you do you will be solely responsible for any increase in costs over and above the original approved items and their associated costs.

3. Survey; If you have been provided with an existing survey we need to know right away. We order a survey from title immediately and it will need to be cancelled.

4. Insurance Binder:
Mortgagee Clause is: DHLC Mortgage LLC, ISAOA ATIMA 2804 Greenville Ave, Dallas, TX 75206.
Vacant Dwelling or Builder's Risk Coverage with Theft Riders must cover loan amount (at a minimum).
We require a Declarations Page and an Invoice. Your agent should fax this to us immediately.
6 month policy must be paid in full. It is not required to be paid until closing.

DHLC HARD MONEY LOAN PROCESS

Inspection & Appraisal must be paid for in advance and you must have scope of work available for appraiser if you have not already provided one to DHLC. Click on this link  Fees ,  to pay for the Inspection and Appraisal.

When appraisal and scope of work are complete, DHLC's approved estimator will review these items and view the property in order to generate the Pre-Purchase Inspection Report. This report outlines each repair/upgrade item and places today's typical cost on each. DHLC pays for this report

When final numbers are agreed upon, a Loan Term Sheet is sent to your email outlining the final loan offer. This email will also include a link to our website for payment of the doc prep fee of $550.00. You must sign and return Loan Term sheet and submit the payment for doc prep before DHLC can send closing documents to title.

There are two additional items required at closing we want to remind you of:
- ACH form - DHLC requires monthly payments be deducted directly from your bank account. This is also how funds are sent to you when a draw request is made.
- Home Warranty - at a cost of $495.00. DHLC will order this warranty. It will be charged to you on the closing statement.

Please call your Hard Money Loan Specialist if you have any further questions.

Thank you for choosing DHLC Investments Inc.