B.E. Lending provides first mortgage loans for business purposes on investment properties to assist our clients with their acquisition, rehab, fix/flip, cash-out or rate & term refinance. All properties must have a strong exit strategy. We also provide construction financing for ground-up new construction, property additions and lot development. We will consider second mortgages and mezzanine loans on a selective basis. We also consider Joint Ventures, providing both debt and equity on a selective basis. We target loans between $25,000 and $5,000,000. Our team has collectively funded over $1B residential and commercial loans.
Type: 1-4 units, Condo, SFR, Town-homes, Commercial, Multi-family Term: 1 - 12 months (4 month average payoff) Avg. Rate: 10% - 15.9% (0.83%/mo to 1.33%/mo) Payments: Interest Only Origination Fee: 0% - 2% Underwriting/Doc Fee: $500 Down-payment: Min 20%. We finance up to 80% of total project costs including construction.* Loan-to-Cost: 75%-80% (70% ARV) Pre-payment Penalty: None, 30 day minimum interest Asset-Based Lending: Typically No appraisal, No Personal Guarantee and No Credit Check
Term: 3yr or 8yr Fixed Rate, 30yr Term/Amortization Rate: 7.75% - 9.75% Origination Fee: 0%-2% Underwriting/Doc Fee: $1,995 - $2,900 Down-payment: 25% LTV: up to 75% Pre-payment Penalty: 3%-5% first 3 years, none after 3yrs (Can be bought down to 1yr PPP) Asset & Borrower Based Lending: Appraisal, 1003 app & Credit Check are required. *No Income Verification or Tax Returns.