Bluebird Mortgage Corporation

About Bluebird Mortgage Corporation

Bluebird Mortgage Corporation is a private money lender based in Lakewood, CO providing loans throughout Denver. They offer fix and flip hard money loans and long term rental property loans. They offer rates from 14%, terms up to 6 months, and loans with a maximum LTV of 70%. They will consider different loan scenarios but primarily focus on single family units.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans

Property Types Covered: Single Family

Areas Served: Denver

Lending Guidelines for Bluebird Mortgage Corporation

Below are the general loan guidelines published on the Bluebird Mortgage Corporation website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Bluebird Mortgage Corporation.

Loan Example 1

Louis finds a property in Denver, CO to remodel and re-sell. Since he doesn't have enough cash available to buy the $290,000 project outright, he takes out a fix-and-flip loan from Bluebird Mortgage Corporation. Because the lender sets a 85% loan to value, Louis will need to put 15% down so the total amount of the loan will be $246,500. The rate on the loan is 11% for a term of 18 months and the company requires a one point origination fee at the close. The interest is to be paid monthly and the principle amount will be paid back after the property sells.

Accordingly, the borrower will be required to make a $43,500 down payment in addition to paying a $2,465 origination fee. The monthly interest only payments will then total $2,260 to Bluebird Mortgage Corporation. If he sells the renovated project for $420,500 at the end of the 18 month term, his gross profit (not accounting for rehab expenses) would be $87,363. This is calculated by taking the sales price ($420,500) and subtracting the principle ($246,500), the origination cost ($2,465), the cash he brought to closing ($43,500), and the total interest payments ($40,673).

Loan Example 2

Jillian takes a hard money loan from Bluebird Mortgage Corporation so she can remodel a townhome to resell in Denver, CO. The deal has the following terms:

$370,000 sales price
50% loan-to-value (LTV)
6 month term
14% rate of interest
3% origination fee

If Jillian accomplishes her goal of a $462,500 sales price, the outcome of the project will be as follows:

$462,500 sales price
- $185,000 note principle (50% LTV)
- $185,000 down payment (50% on 50% LTV)
- $5,550 origination fee (3% of the $185,000 principle)
- $12,950 total interest paid (6 months x 14% interest)
-----------------------
= $74,000 gross profit (doesn't include taxes or renovation costs)

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