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.
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.
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.
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.
|Loans From||$500,000 to $50 million|
|Term||6 months to 18 months, with renewal options|
|Interest Rate||Contact us|
|Commitment||as little as 48 hours of receipt of all underwriting information|
|Loan Approval & Funding||in as few as 5 days of loan completion|
|Debt Service Coverage Requirements||none|
|Underwriting Decisions||all decisions made in-house|
|Draws||typically within 24 and 48 hours of request|
I’ve worked with Broadmark Realty Capital for four years now. I continue to work with them because of their quick underwriting, decision making, and draw process. It’s nice to have a lender that also acts as a strategic partner.
Thank you again for everything. It was great working with Matt Bullis and the rest of the Broadmark team. Draws, inspections, and payoffs were easy. We are really excited to be doing more projects with you all. Please pass our gratitude on to the rest of your team at Broadmark.
I was in contact with Broadmark about 2 years ago when a client was using them for financing on some new construction investment properties. I mostly deal with traditional banks and a little bit with private money. I was extremely happy, from the contractors side, of how they ran each project. I was paid on time every month and enjoyed working with Matt Bullis over there. What I like most is their guarantee of financing on each job which makes life a lot easier for the General Contractor and alleviates all risk of non-payment which has happened multiple times working with previous private banks. I would absolutely recommend Broadmark and Matt Bullis to anybody looking for construction financing.
First and foremost, Jordan was absolutely a pleasure to work with. He was such a pro and went above and beyond our expectations. Broadmark’s rapid draw process allowed us to have funds within 24 hours – even our subcontractors were impressed. Everything we asked for, we got. It was nice to be treated with such great service, and I look forward to working with the team in the future!
I really appreciate all you did for us. Having our original construction loan mature before we were qualified for conventional financing could have cost us our business. You stepped up and helped us. I would recommend you in the future without hesitation!
Broadmark has financed numerous development, construction, and rehab loans for us. Their ability to close a loan quickly combined with their prompt draw funding has allowed us to make bargain purchases and take advantage of vendor and subcontractor discounts.
Broadmark has become my primary source for private money loans. Their underwriting and due diligence process is fast and efficient. I know my clients will receive outstanding service when dealing with them.
Broadmark had the confidence in me to finance my first project after the market downturn. With their help I developed, built, and sold a successful multi-home project. I will continue to use them for my lending requirements.
Broadmark separates themselves by doing what they say they are going to do. I have worked with other hard-money lenders and they do not compare to the service and execution that they deliver. They will always have a first right of refusal on my future projects.
Being a young developer/builder I encounter a lot of challenges. Broadmark has been a valuable business partner to have through the process of guidelines, budgeting, and management. I know that I can pick up the phone and call these guys at a drop of a hat and they will always respond and assist me with whatever I need.
Highest Degree of Leverage
We loan against the completed value of your project, with no loan-to-cost requirements. As a result, we can provide more funding for your project than a bank can and that means more flexibility for you.Speed / Convenience
We can close as quickly as 5 days, and draws are wired within one to two business days after inspection approval. Banks can take months to review a typical real estate project. In that time, our clients’ projects are already underway and on the way to realizing profits.
Unmatched Industry Expertise
We’ve closed approximately $2.8 billion in project capital over more than 1,200 loans (and counting). Our level of construction market intelligence is second to none.In-House Manual Underwriting
We evaluate every deal on its own merits and are faster and more flexible in the evaluation process than traditional financing such as banks. You’ll typically get feedback within the same day of your request and a term sheet within as little as 24 to 48 hours.