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Bayport Funding

Bridge Loan
Residential (1-4 Family), Bridge Loan

Property Types 2-4 Units, Condo, SFR
Lending Areas NATIONWIDE
Interest Rate min 10.5%
Prepayment Penalty 6 months
Credit Score Min 650
Loan Use Property Acquisition, Redevelopment / Renovation
Recourse Recourse
Interest Rate max 14%
Amortized or Interest Only Interest Only
Needed Documents Bank Statements - Business Account - 1 month
Term 1 year, 2 year
Loan amount Minimum $50,000
Entities Corp - Corporation, LLC - Limited Liability Corporation, LP - Limited Partnership, Trust, Foreign Nationals
Loan amount Maximum $2,000,000
Extensions Available Yes
Cross Collateralize Blanket Yes
Lien Position 1st
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
DSCR Mixed Use 2-8 & 5-8 Unit Residential

Property Types Mixed use, Multi Family
Lending Areas NATIONWIDE
Interest Rate min 8%
Prepayment Penalty 5,5,5,5,5
Credit Score Min 660
Loan Use Property Acquisition
Interest Rate max 10.75%
Amortized or Interest Only Amortized and Interest Only Options available
Needed Documents Appraisal, Lease Agreements, Rent Roll
Intended Occupancy v Tenant
Special Features 10/1 Interest-Only, 40 year I/O, 40 year loan term available
Term 5 / 6 month ARM, 30 year, 40 year
Personal Income Documented No
Loan amount Minimum $250,000
Entities Corp - Corporation, LLC - Limited Liability Corporation, Individual, Trust
Loan amount Maximum $2,500,000
Lien Position 1st
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

Long Term Rental Loan
DSCR

Property Types 2-4 Units, Condo, SFR
Lending Areas NATIONWIDE
Interest Rate min 8%
Prepayment Penalty 1 year, 2 years, 3+ years, 5,5,5,5,5
Credit Score Min 680
Loan Use Property Acquisition
Interest Rate max 10.75%
Amortized or Interest Only Amortized and Interest Only Options available
Reserve Requirement 12 months
Needed Documents Appraisal, Lease Agreements, Rent Roll
Intended Occupancy v Tenant
Special Features 40 year I/O, 40 year loan term available, Foreign National, Non-warrantable condos permitted
Term 5 / 6 month ARM, 30 year, 40 year
Personal Income Documented No
Loan amount Minimum $125,000
Entities Corp - Corporation, LLC - Limited Liability Corporation, Individual
Loan amount Maximum $5,000,000
Lien Position 1st
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

Summary of all Guidelines

Bayport Funding is located in Great Neck, NY.

These descriptions are limited information and meant for general reference purposes.
98 Cuttermill Road, Suite 424N
Great Neck, 
NY
 11021