We've been lending in Utah since 2014
Utah is one of the fastest-growing states in the country, and Salt Lake City ranks as one of the top U.S. cities in terms of population growth. Salt Lake City has a high overall quality of life, a booming economy, and easy access to transportation. It’s a great region for real estate development – and if you need quick and reliable construction financing, Broadmark Realty Capital can help.
Our Utah lending team observes the market shifts of the region and will be your ally from day one through the completion of your project. All our loans are backed by careful, in-house underwriting, a strong understanding of the local market, fair pricing, and the utmost level of service.
Our lending commitments:
Loan-to-value ratio: up to 65% of the after repair value
Commitment in as little as 48 hours
Typical loan size: $500,000 to $50 million
No upfront fees
No prepayment penalties
Funding typically within 5 days of commitment
Our construction loan is designed for vertical construction of projects such as multi-family housing, single-family housing, commercial, office, and industrial buildings, our loans are underwritten against the completed value of your project so you have more funding flexibility.
Our land development loans provide funding for the purchase of development-ready lot(s), soft costs, and entitlements required for development, such as hiring architects, engineers, and environmental and other consultants.
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.
Our redevelopment loans are designed for major improvements on multi-family units as well as commercial, office, hospitality, and industrial buildings, our rehab loans cover major upgrades such as tenant improvements, studs-out remodels, expansions, and redevelopment.
We offer hard money financing in the following Utah counties:
Beaver, Box Elder, Cache, Carbon, Daggett, Davis, Duchesne, Emery, Garfield, Grand, Iron, Juab, Kane, Millard, Morgan, Piute, Rich, Salt Lake, San Juan, Sanpete, Sevier, Summit, Tooele, Uintah, Utah, Wasatch, Washington, Wayne, and Weber counties.
Our Utah Lending Experts
Construction loans are very much a partnership. Our relationship doesn’t end the day documents get signed. Whether negotiating with a third-party lender, ensuring adequate reserves for maintenance and repairs, or addressing environmental concerns, we will be your advocate throughout the process, and do everything in our power to get you the loan you need.
Thomas J. Gunnison is Senior Vice President of the Mountain West region for Broadmark Realty Capital, overseeing loan origination and underwriting. Prior to joining Broadmark, Thomas worked for Re/Solve Funding, a private real estate lender, from 2013 to 2014, where he was responsible for loan originations and account maintenance.
Brett Kaye oversees business development of Broadmark Realty Capital for Colorado. Prior to joining Broadmark, he built and sold several businesses including an online investment property analysis software platform, a real estate investment company, a brokerage, coaching, training, and speaking practice, a private equity brokerage, and a second online real estate platform.
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.
Let us know how we can help you complete your next project.
Phone: (800) 609 – 8704
Office: 3000 Lawrence St
Denver, CO 80205
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!
(800) 609 – 8704
This is a hidden element used by the page to determine the phone number to be used in the header