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Bayport Funding

Bridge Loan
Residential (1-4 Family), Bridge Loan - LG333

Bayport Funding

Summary of all Guidelines

Loan Types 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

Lien: First Lien Mortgage
Loans type: Business Purpose
Interest reserves: Required for certain loans as set forth in Borrower Liquidity section below
Full Recourse
Minimum Loans size: Single Family/Condo: $50,000 funded loan amount at loan acquisition 2-4 Family: $75,000 funded loan amount at loan acquisition
Maximum Loans Size: $2.0 million ($7.5 million in cases approved by Loans 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

These descriptions are limited information and meant for general reference purposes.