Experienced Lenders of Commercial Loans, Construction Loans, & Land Loans

Broadmark Realty Capital offers funding for land development, heavy rehabs, and vertical construction for projects such as multi-family housing, single-family housing, commercial, office, retail, and industrial buildings.

  • Highest Degree of Leverage – We loan against the completed value of your project, with no loan-to-cost requirements.
  • Speed & Convenience – We can close as quickly as 5 days, and draws are wired within one to two business days after inspection approval.
  • Unmatched Industry Expertise – We’ve closed approximately $2.8 billion in project capital over more than 1,200 loans.
  • In-House Manual Underwriting – We evaluate every deal on its own merits and are faster and more flexible than many other lenders.

Please note: Our minimum loan amount in Texas is $1M. In all other states, our minimum amount is $500K.

 

Property Geographic Area Details
Alabama, Arizona, Colorado, Florida, Georgia, Idaho, Illinois, Maryland, Missouri, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Washington D.C., and Wyoming
Loan Amounts
$500,000 to $50,000,000
Interest Rates
10% to 12.5%
Loan Terms
6 months to 24 months
Origination Fees
2% to 4.5%
Lien Position
1st
Collateral Types
  • Residential Property
  • Commercial Property
Loan Purpose
  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Value Add Project
  • Development Project
Property Occupancy
  • Vacant
  • Tenant Occupied 100%
  • Owner Occupied Commercial

Construction Loans

Designed for vertical construction of projects such as multi-family housing, single-family housing, commercial, office, and industrial buildings, our construction loans are underwritten against the completed value of your project so you have more funding flexibility. As a project-oriented lender, we make sure your project is fully funded between the loan and your equity. Unlike a traditional lender, we do not have additional deposit requirements, nor do we have strict liquidity requirements.

As specialists in construction loans, we understand the funding needs of real estate developers, builders, and contractors. Our expedited draw process—as quick as 24 to 48 hours—gives you quick access to cash. Our loans can also be structured with a pre-draw to cover land and soft costs if needed.

Land Development Loans

Our land development loans provide funding for the soft costs and entitlements required for development, such as hiring architects, engineers, and environmental and other consultants. We have a greater understanding and appreciation for land loans than many lenders. Our underwriting is based on the future completed value of the asset, allowing a greater loan-to-value than other lenders.

Bridge Financing Loans

We provide interim, or short-term, funding to cover the gap between when a construction loan comes due and long-term financing can be arranged. We base our loans on the completed value of the project, minimizing additional equity or cash requirements.

As construction loan specialists, we are particularly helpful on broken construction loans: when a loan becomes due before construction is finished. We underwrite your loan on the completed value of the project, rather than its unfinished state. Most lenders, including traditional bridge lenders, look only at the current value of the property. This means that you won’t need to bring as much cash to the table or dilute your equity to get a loan closed. In addition, our expedited draw process—as quick as 24 to 48 hours—gives you quick access to the cash your contractors need to complete the project.

Heavy Rehab / Redevelopment Loans

Designed for major improvements on multi-family units and commercial, office, hospitality, and industrial buildings, our rehab loans cover major upgrades such as tenant improvements, studs-out remodels, expansions, and redevelopment. We have lower equity requirements (including cash on hand) than traditional lenders, and again unlike traditional lenders, we base our loans on the completed value of the improved building, not its existing condition. This leaves you with more funding for the project.

As specialists in construction loans, we tailor our loan solutions to the needs of contractors, including an expedited draw process to get necessary cash when they need it.

Property Types

  • 2-4 Units Residential
  • Bed and Breakfast
  • Commercial Condominium
  • Commercial Land
  • Community Center
  • Condominium
  • Event Center
  • Healthcare
  • Hospital
  • Hostel
  • Hotel
  • Industrial
  • Mixed-Use
  • Multifamily
  • Office
  • Portfolio of Commercial Properties
  • Portfolio of Residential Properties
  • Retail
  • Senior Housing
  • Single Family Residence
  • Storage Facility

Loan Types

  • Commercial Property Value Add
  • Commercial Ground-Up Construction
  • Residential Ground-Up Construction

Specialty Loan Types

  • Condo Conversion
  • Land Development
  • Subdivisions

Description

For land acquisition, we typically fund 50-60% of the purchase price, but we may consider going up to 65% if the property is fully entitled and shovel-ready.

Land Types Considered

  • Residential Land
  • Multifamily Land
  • Industrial Land
  • Office Land
  • Retail Land
  • Hospitality Land
  • Special Purpose Land
  • Covered Land

Will Consider Land That is NOT Entitled

yes

Max LTV for Land

65%

Max LTC for Land Acquisition

60%

Max Loan-to-Purchase Price

65%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Equity in Subject Property
  • Equity in Another Investment Property
  • Equity in Primary Residence
  • Seller Financing
  • Gap Lender
  • Crowdfunding
  • Family

Experience Required

no

Minimum Number of Value-Add Projects Completed by Borrower

0

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

100%

Interest Charged for Renovation Costs

Entire Amount of Total Project Costs

Typical Number of Days for Funds Draw

2

Maximum After Repair Value

65.00%

Development Experience Required

no

Minimum Number of Ground-Up Construction Projects Completed by Borrower

0

Max LTC for Ground-Up Construction Costs

100%

Interest Charged for Construction Costs

Entire Amount of Total Project Costs

Will Lend on Partially Completed Construction Projects

yes

Legal Fee

3rd Party Attorneys and Closing fees only

Title Fee

3rd Party Title and Closing fees only

Appraisal Fee

3rd Party Appraisal Required, payment submitted directly to 3rd party

Renovation Construction Draw Fee

3rd party inspection fee only

Fees which are paid to a third party company

  • Appraisal Fee
  • Title Fee
  • Renovation or Construction Funds Draw Fee

Details and Requirements

Typical Closing Time (Days)

5

Fastest Closing Time (Days)

3

Payment Structure
  • Interest Only
  • Interest Reserve
Pre Payment Penalty

no

Will lend to a foreign national

yes

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered
  • Individual(s)
  • LLC
  • Limited Partnership
  • Trust
  • Corporation
  • Self-Directed IRA
Documentation Required
  • Credit Report
  • Tax Returns
  • Financial Statements
  • Loan Application
Personal Guaranty (Recourse) Required
Always
Credit Check Required

yes

Minimum Credit Score Required

400

Credit Check Description

No minimum credit score requirement. Credit issues and low scores are evaluated on a case by case basis.

Appraisal Required for Residential Property

Always Before Funding

Appraisal Required for Commercial Property

Always Before Funding

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

Legal Disclaimer

Please contact us for further information regarding loan availability and rates.

Additional Details

We don't charge any in-house fees except for the origination fee

Broadmark Realty Capital Testimonials

Get In Touch

Broadmark Realty Capital pays us to be listed, so there is no fee to connect with them directly. Share your loan request, send a simple email, call, or visit their website.

Stay Informed About Private Lending

Receive our monthly newsletters with valuable insights and industry updates
subscribe-illustration

Broadmark Realty Capital Inc. (NYSE: BRMK) offers short-term, first deed of trust loans secured by real estate to fund the acquisition, renovation, rehabilitation, or development of residential or commercial properties. Broadmark Realty Capital manages and services its loan portfolio across a variety of market conditions and economic cycles. Since its inception in 2010 through June 30, 2019, Broadmark Realty Capital has originated over 1,200 loans with an aggregate face amount of approximately $2.8 billion.

 

Year Established

2010

Office Locations

Headquarters - Pacific Northwest
1420 Fifth Avenue, Suite 2000, Seattle, Washington 98101

Southeast
309 E Paces Ferry Road NE, Suite 400, Atlanta, Georgia 30305

Mountain West
2000 S Colorado Blvd, Tower 1, Suite 2000, Denver, Colorado 80222

Colorado
3000 Lawrence Street, Suite 235, Denver, Colorado 80205

Primary Capital Source
  • Own Funds
Loan Structure for Majority of Loans
  • Own Balance Sheet
Total Number of Loans Funded to Date

1200

Total Loan Volume Funded to Date

$2,800,000,000

Our Team

Brett Kaye

Brian Dubin

Bryan Graf

Jacob Wigle

Jefferson Cary

Jordan Siao

Matt Bullis

Mike Incrocci

Ryan Carmichael

Ryan Good

Thomas Gunnison

Get In Touch

Broadmark Realty Capital pays us to be listed, so there is no fee to connect. Share your loan request, send a simple email, call, or visit their website.

Stay Informed About Private Lending

Receive our monthly newsletters with valuable insights and industry updates
subscribe-illustration

Create a Loan Request

Be more efficient with your lender search. Provide the loan details once, save it, and then share it with multiple lenders.

Contact Broadmark Realty Capital by whichever method you choose.

If you submit a loan request or email, it will be sent to the lender, and they will reply to you directly. A copy will be saved in our database. We will not share your information unless you ask us for recommendations.

BEFORE YOU CONTACT THIS LENDER

Our Minimum Loan Amount Is

$500,000

What We Do

  • Specialize in New Construction & Rehab
  • High Leverage for Construction Costs
  • Land Development - Horizontal + Vertical
  • Will Consider Equity in Land Owned
  • 40% Cash Required for Land Purchase

Not Available

  • NO Owner-Occupied Homes
  • NO Junior Financing
  • NO Cannabis-Use Properties
  • NO Texas Loans Under $1M

Send an email to Broadmark Realty Capital