Blackburne and Sons Lending Guidelines
Blackburne & Sons Realty Capital Corporation is a $50 million hard money commercial lending company which was founded in 1980. Our commercial real estate loans typically have a 15 year term, and our commercial loans almost never have a prepayment penalty or a lock-out clause. Blackburne & Sons is looking to fund commercial real estate loans that are not quite clean enough for a bank. Here are some of our lending guidelines:
- Loan Amounts: $75,000 to $3,000,000
- Lending Areas: Nationwide (crime rate of neighborhood must not exceed 125% of national average)
- Loan Types: Purchase, Refinance, Equity Cash Out, Bridge Loans, Preferred Equity
- Commercial Property Types: All Standing Commercial Property (except churches), Raw Land, Portfolio of 5+ Rental Homes
- Residential Property Considered in California Only (business purpose, non-owner occupied)
- LTV (loan-to-value): up to 75% for improved property, up to 50% for land
- Interest Rates: 7.9% to 10.9% in California, 10.9% to 15.9% in all other states
- Origination Fee: 2.0 to 5.0 points
- Loan Term: 15 year terms with 3 to 5 year call options
- Amortization: 30 years if property less than 50 yrs old, 25 to 15 years if property older than 50 yrs
- Lien Position: 1st only
- Will Allow Seller to Carry Back 2nd Mortgage
- No Prepayment Penalty
- No Applications Fees or Upfront Fees
- Brokers Welcome
Watch our videos below to learn more about our lending guidelines…
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.
About Blackburne & Sons Realty Capital Corporation
Blackburne & Sons Realty Capital Corporation is a nationwide hard money commercial lending company. We syndicate the investment funds of accredited, private investors and use these funds to make permanent first mortgage loans on standing commercial properties and non-owner occupied single family residences. Blackburne & Sons has been in business since June of 1980. We currently service approximately 250 commercial first mortgage loans totaling approximately $50 million. Our company has a dozen employees in two offices. The main office is in Sacramento, California. We have a branch office in Plymouth, Indiana.
The company is owned by its original founder, George Blackburne, III, an attorney licensed in California and Indiana. Mr. Blackburne moved to Indiana nine years ago to send his two sons to his alma mater, the well-respected preparatory school, Culver Military Academy. Both George IV and Tommy successfully graduated from Culver Military Academy. George IV went on to graduate with a degree in business from Ohio State University in 2008. To his proud father’s great joy, young George has now joined the company. Tommy graduated Purdue University and joined the family company in the Fall of 2010.
Blackburne and Sons Realty Capital Corp. is a licensed real estate broker – California Bureau of Real Estate License #01425852, NMLS #389465.