Private Money Commercial Loan Rates

Blackburne & Sons Realty Capital Corporation (est. 1980) is seeking the following types of commercial loans:

Loan Types

• Permanent first mortgage loans
• Bridge loans in a first mortgage position
• Land loans
• Sorry, no construction loans.

Minimum Loan

• $100,000

Maximum Loan

• $2,500,000 (maybe up to $3,500,000)

Acceptable Properties

All standing commercial properties, plus land loans, including:

• Multifamily
• Office
• Retail buildings
• Strip centers
• Shopping centers
• Industrial buildings
• Warehouses
• Mixed use buildings
• Self storage
• Hotels
• Motels
• Commercial condominiums
• Industrial condominiums
• Assisted living
• Residential care homes
• Day care facilities
• Gentlemen’s clubs
• But no churches. We’ve had a 100% default rate on churches.

Lending Area

• Nationwide (Crime rate of the neighborhood must not exceed 125% of the national average)

Amortization

• If the property is less than 50 years old:  30 years
• If the property is older than 50 years:  25 to 15 years

Loan Term

• 15 years

Points

• 3 points typically

Prepayment Penalty

• None

Application Fees / Upfront Fees

• None

Loan-to-Value Ratio

• Purchase money loans:  75%
• Refinances:  65% to 70%
• Land loans: 25% to 50% (usually 40%)

Interest Rate

• 8.9% to 11.9% in California
• 10.9% to 13.9% outside of California