Loan Process
Our unique process is streamlined and fast. Our residential style of underwriting keeps the process easy and is the core or our competitive advantage over other commercial real estate lenders. Here are our 3 easy steps…
 Qualification and Pre-Approval |
 Underwriting and Appraisal |
 Closing and Funding |
Step 1: Qualification and Pre-Approval
To get the loan process started, you’ll need to complete and submit a loan application. You can either apply online, print our forms/application and fax it to us, or call us at 1-888-530-5553 to have a representative take it over the phone.
Forms:
The attached forms include everything you need to submit a loan. The forms are designed to be downloaded, printed, filled out and faxed back to our office at 801-606-7671.
After the application is received, we will…
• Order a Tri-Merge Credit Report • Request a copy of the Purchase and Sales Agreement (if applicable) • Determine loan amount and rate • Determine documents required for underwriting • Determine documents for closing • Provide estimated appraisal fee |
Adobe Acrobat Reader is required to view |
Step 2: Underwriting and Appraisal
We'll let you know if there are any other supporting documents we need for the appraisal, such as a sales agreement, rent roll or commercial lease(s). Keep in mind that waiting to get these documents could delay the appraisal process.
In addition to ordering the appraisal, we will…
• Need signed Conditional Pre-approval Letter (when applicable)
• Need appraisal processing fee
• Order title
• Obtain environmental due diligence
• Conduct real estate and income analysis (when applicable)
Thanks to Stated Commercial, LLC’s “Stated Income/Stated Asset” approach to financing, we can close loans as quickly as an appraisal and title report can be submitted and accepted by us. In fact, we generally close loans within 4 to 6 weeks of the initial loan application! That’s faster than most banks and traditional lenders.
Our final process…
• Coordinate with title company and attorney for closing
• Prepare all loan documents and send them to closing agent
• Send completed documents to custodian for review
• Issue funding in 24 to 48 hours!