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
- 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.