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The BLC Process

As easy as 1, 2, 3

1. Preliminary Deal Analysis 

  • Preliminary package to be provided by referral source and reviewed by BLC
  • If a viable deal, a Conditional Loan Commitment (CLC) is provided
  • Deposit collected along with signed CLC

2. Underwriting

  • Full needs letter is prepared and provided to the applicant
  • Reports ordered (appraisal, environmental, property inspections, title)
  • Loan submitted for final approval
  • Final Commitment Letter (CL) is provided

3. Loan Closing

  • Once the signed CL is received, a final closing checklist is provided to the Applicant.
  • ¬†Loan documents are prepared upon receipt of all items needed to close the loan
  • Loan funding

With full cooperation from the applicant, a typical loan closing can happen in 30-60 days.