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Your Success is Our Mission. We offer a suite of services and support designed to help you succeed in commercial finance.

Submitting Your Loan

Please follow these four steps to help make your apartment or commercial financing request run smoothly. Count on us to do all we can to make this a great experience. Following these steps will ensure a closing in 60 days or sooner. The timing truly depends on you. The quicker you turn in the required documentation the quicker it will close.

1. Obtain the letter of Interest/Conditional Approval

The property must be able to service the debt, so it is critical that we obtain these items to issue a Letter of Interest (LOI). The process of obtaining the LOI will determine whether the property supports the desired loan amount. In order to obtain an LOI, fax or email the following:

  • ALB Loan Submission Form
  • A current rent roll
  • An operating history for the last two years and year-to-date
  • A completed loan application form 1003
  • A recent credit report or a signed Credit Authorization
  • A copy of Purchase Contract (for purchase transactions)
  • Digital Property Photos

2. Begin Preparing an Underwriting Package

After Gathering the items in Step 1 our processing department will work with you on fine tuning the credit file. This would include:

  • Tightening up and completing the loan application form 1003 or a personal financial statement
  • Collecting 2 years of personal and corporate tax returns from borrower(s) (if applicable)
  • Completing a Schedule of Real Estate Owned on borrower(s)
  • Year-To-Date Profit & Loss (if self employed)
  • Last 3 months Bank statements and pay check stubs that support down payment for purchase transactions along with lenders reserve requirements
  • Gather Entity Documentation (if applicable)
  • Submit escrow & title info (for purchase transactions)

3. Submit Your Package to ALB Commercial Capital

Forward the signed LOI, check, and as much of Step 2 as possible to ALB via email or fax. Mail the signed original LOI with the check for the appraisal and rate lock (if desired). Upon receipt, our processing team will start to work on ordering the appraisal and provide to you a "Needs List" of outstanding items.

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4. Underwriting

Once all of the information is received the file will be sent to Underwriting for final loan approval. Files are generally underwritten on a "first in first out basis". Loan approval typically comes with some conditions prior to funding or prior to docs and therefore we encourage you to submit all conditions as soon as possible to ensure the speediest turnaround.

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