A closing announcement like this is called a tombstone, and the purpose of any tombstone is to give mortgage brokers an example of the types of deals that a particular lender makes. The message we want to convey today is that Blackburne & Sons will gladly finance investment-purpose residential properties, and we are very comfortable lending in Texas.
We are pleased to report this $660,000 closing! The loan is secured by a 4,334SF single family residence with a 2,432SF finished basement, on three parcels totaling 59 acres of land, located in Atlanta, Texas. It is important to note this is not an owner-occupied property, and that the funds were used for investment purpose only.
Blackburne & Sons is a hard money commercial lending company that surprisingly makes permanent loans, rather than bridge loans. Because we make 15 year loans, amortized over 30 years, our APR is much lower than the competition. Of course, there is no prepayment penalty, so our loans make great bridge loans too.
We syndicate the investment funds of about 900 accredited, private investors and use these funds to make permanent first mortgage loans on standing commercial properties. The company has been in business since 1980, so this is now our 40th year in business. The company currently services approximately 250 commercial first mortgage loans totaling approximately $50 million.
For more information, please call Alicia Gandy at 916-338-3232 or email her at firstname.lastname@example.org.