Individual Loan Pricing
Each loan is priced individually, depending on the safety and affluence of the area, the attractiveness of the property, the age of the property, the loan-to-value ratio, the size of the loan, whether the loan is a refinance or a purchase money loan, the income and wealth of the borrower, and the credit of the borrowers.
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
- $1,000,000
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
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
- 2 – 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
- 10.9% to 11.9% in California
- 12.9% to 14.9% outside of California