Approval Process

Submit Loan Scenario

For a complete list of items that will be needed to submit your loan, please check Documents Needed. Submitting all of the necessary information, or at least having it available, can greatly reduce the time required for Copper River Funding, LLC to issue a term sheet.

Copper River Funding, LLC Review

Once your file is received electronically, Copper River Funding, LLC will review the information and determine whether or not any additional information is required to decide if the loan request is an acceptable scenario. The entire process will generally take less than 24 hours and can often be completed in the same day that your file is submitted.

Additional Information Requests

If necessary, CRF will request additional information from you. If no additional information is required, we will either conditionally approve your loan or deny it altogether. In some instances, we will make suggestions as to how you could more properly structure your scenario in order to get it approved. We will also review the possibility of cross-collateralization if necessary.

Term Sheet Issuance

Once the preliminary review is complete, a term sheet including proposed rates and terms will be issued to the borrower. The term sheet is valid for 72 hours and requires a signature and pre-determined and clearly stated non refundable due diligence deposit.

Due Diligence Period

The CRF due diligence period begins upon signed receipt of the term sheet and due diligence deposit. During this time CRF will require a conference call directly with the borrower and will order all third party information necessary to complete the transaction.

Closing & Loan Payments

Upon completion of due diligence, a closing will be scheduled at a Title Company or Attorney's office of our choice. Monthly payments are required to be automatically drafted and deposited into an audited escrow account of our choice.