PHASE 1: Prequalification

ACC receives the Initial Submission Package. Once package is reviewed by your ACC Account Executive a prequalification will be issued, usually within 24 hours.

PHASE 2: Approval

Once the borrower decides to go forward with a particular program, the Submission Package will be reviewed by our underwriting department. A member of our underwriting staff will contact and interview the borrower for quality assurance and an approval will be issued.

PHASE 3: Appraisal

With an issued and signed approval the appraisal can be ordered. The borrower will then provide payment for the appraisal to Action Commercial Capital through wire transfer or cashier’s check. Appraisals can take anywhere from 2 – 6 weeks to be completed.

PHASE 4: Processing & Underwriting

Prior to completion of the appraisal, ACC will collect and review conditions to confirm they meet our criteria. Our processing department will work diligently and creatively with the broker/borrower to streamline the process and ensure an efficient loan closing.

PHASE 5: Closing & Funding

Closing documents will be sent out after the appraisal is completed and conditions have been satisfactorily met. Funding will occur as soon as ACC receives and reviews the signed closing documents.

INITIAL SUBMISSION PACKAGE: Stated Doc

• Loan Submission Form
• 1003 Fannie Mae application
• Tri-merge credit report under 25 days old
• Rent Roll

INITIAL SUBMISSION PACKAGE: Full Doc

• Loan Submission Form
• 1003 Fannie Mae application
• Tri-merge credit report under 25 days old
• 2 years tax returns (Personal & Corporate)
• 2 years W-2
• Rent roll