- Bruce Lawner
COO
Long Term Rental Loan | |
Property Types | 2-4 Units, Condo, SFR |
Lendding Area | NATIONWIDE |
Loan amount Minimum | $125,000 |
Loan amount Maximum | $5,000,000 |
Interest Rate Minimum | 8% |
Interest Rate Maximum | 10.75% |
Terms | 5 / 6 month ARM, 30 year, 40 year |
Credit Score Min | 680 |
Interest Only or Amortized | Amortized and Interest Only Options available |
Entities | Corp - Corporation, LLC - Limited Liability Corporation, Individual |
Lien Position | 1st |
Prepayment Penalty | 1 year, 2 years, 3+ years, 5,5,5,5,5 |
Documents needed | Appraisal, Lease Agreements, Rent Roll |
Intended Occupancy | Tenant |
Special Features | 40 year I/O, 40 year loan term available, Foreign National, Non-warrantable condos permitted |
Reserve Requirement | 12 months |
General Pricing or Guideline info | SINGLE RENTAL PROPERTY LOANS Individual rental properties 1-4 units, townhouses $100K – $5M Up to 75% of value Fixed rates 30 year term Pre-pay penalty: 1-5 year options No tax returns required LLCs or Corporations Foreign nationals eligible RENTAL PORTFOLIO LOANS 2+ rental properties Single family, 2-4 Units, or townhouses $250K-$5MM Up to 75% of value 30 yr Fixed Rate 30 year amortization Pre-pay penalty: 1-5 year options No cash management required LLCs or Corporations Foreign nationals eligible |
Updated as of | 2023-11-14 |
Bridge Loan | |
Property Types | 2-4 Units, Condo, SFR |
Lendding Area | NATIONWIDE |
Loan amount Minimum | $50,000 |
Loan amount Maximum | $2,000,000 |
Interest Rate Minimum | 10.5% |
Interest Rate Maximum | 14% |
Terms | 1 year, 2 year |
Credit Score Min | 650 |
Interest Only or Amortized | Interest Only |
Entities | Corp - Corporation, LLC - Limited Liability Corporation, LP - Limited Partnership, Trust, Foreign Nationals |
Extensions Available | Yes |
Cross Collateralize Blanket | Yes |
Lien Position | 1st |
Prepayment Penalty | 6 months |
Documents needed | Bank Statements - Business Account - 1 month |
Recourse | Recourse |
General Pricing or Guideline info | Lien: First Lien Mortgage Loan type: Business Purpose Interest reserves: Required for certain loans as set forth in Borrower Liquidity section below Full Recourse Minimum Loan size: Single Family/Condo: $50,000 funded loan amount at loan acquisition 2-4 Family: $75,000 funded loan amount at loan acquisition Maximum Loan Size: $2.0 million ($7.5 million in cases approved by Loan Lender). Amortization: Interest Only Prepayment: Up to 6 months of prepayment penalties are permitted Eligible property types include the following: •1-4 Family Underwriting Matrix •Single-family residences •2-4 family residences •Condominiums •Townhomes |
Updated as of | 2023-11-14 |
Long Term Commercial Loan | |
Property Types | Mixed use, Multi Family |
Lendding Area | NATIONWIDE |
Loan amount Minimum | $250,000 |
Loan amount Maximum | $2,500,000 |
Interest Rate Minimum | 8% |
Interest Rate Maximum | 10.75% |
Terms | 5 / 6 month ARM, 30 year, 40 year |
Credit Score Min | 660 |
Interest Only or Amortized | Amortized and Interest Only Options available |
Entities | Corp - Corporation, LLC - Limited Liability Corporation, Individual, Trust |
Lien Position | 1st |
Prepayment Penalty | 5,5,5,5,5 |
Documents needed | Appraisal, Lease Agreements, Rent Roll |
Intended Occupancy | Tenant |
Special Features | 10/1 Interest-Only, 40 year I/O, 40 year loan term available |
General Pricing or Guideline info | Occupancy •Investor-Only Product Offering •5/6 ARM •5/6 ARM 10 Year IO (40 Year Term) •5/6 ARM 10 Year IO (30 Year Term) •30 Year Fixed Rate Mortgage •30 Year Fixed Rate Mortgage (10-year Interest only) •40 Year Fixed Rate Mortgage (must include a 10-year Interest only period) Min | Max $250,000 | $2.5M Property Types •5-8 Units Residential Properties •2-8 Units Mixed-Use Properties •Minimum 50% of square footage must be residential •Minimum of 2 stories Prepayment Penalty •Required 5-Year PPP Required Limitation on Financed Properties •Capped at 6 loans or $5,000,000 |
Updated as of | 2023-11-14 |
Summary of all Guidelines | |
Loan Types | Bridge Loan, Construction Loan, DSCR Loan, Hard Money Loan, Rehab Loan |
Property Types | 2-4 Units, Mixed use, Multi Family, SFR |
Lendding Area | alabama, arkansas, colorado, connecticut, delaware, florida, georgia, idaho, illinois, indiana, iowa, kansas, kentucky, louisiana, maine, maryland, massachusetts, michigan, minnesota, mississippi, missouri, montana, nebraska, new-hampshire, new-jersey, new-mexico, new-york, north-carolina, ohio, oklahoma, oregon, pennsylvania, rhode-island, south-carolina, tennessee, texas, virginia, washington, west-virginia, wisconsin, wyoming |
Loan amount Minimum | $100,000 |
Loan amount Maximum | $6,000,000 |
Interest Rate Minimum | 10.5% |
Interest Rate Maximum | 12% |
Points Minimum 1st TD | 1 |
Points Maximum 1st TD | 2 |
Terms | 2 years |
Interest Only or Amortized | Interest Only, Amoritzed |
Prepayment Penalty | 3 months |
LTV Bridge | 65 |
LTC Construction | 90 |
Upfront Fees | Underwriting |
ARV Rehab & Construction | 75 |
LTC Rehab | 90 |
LTV Long Term Rental | 80 |
Personal Guarantee /Recourse Required | Personal Guarantee Required / Recourse |
Intended Occupancy | Vacant, Tenant |
Percentage of Budget Financed - Rehab | 100 |
LTC Percentage of Budget Financed | 100 |
Bayport Funding is located in Great Neck, NY. They offer financing for Bridge Loans, Construction Loans, Hard Money Loans, Rehab Loans and DSCR Loans. The property type they primarily lend against is Multi Family, Mixed use, SFR and 2-4 Units. Their minimum loan amount is $100,000. Their maximum loan amount is $6,000,000. They offer loans for a minimum Term of 1 year. Maximum duration of 2 years. Although rates can change they are typically lending at a minimum rate of 10.5%. Maximum interest rate of 12%. Points charged are deal specific, but historically have charged a minimum of 1. Maximum points charged are 2.
These descriptions are limited information and meant for general reference purposes.
98 Cuttermill Road, Suite 424N
Great Neck,
NY
11021
![](https://lendding.com/wp-content/uploads/2023/05/lendding-loan-info.png)