Brisco Funding

About Brisco Funding

Brisco Funding is an asset-based lender in Chappaqua, NY providing funding throughout the US. They offer lending solutions for many different situations and needs, including construction loans, buy and hold loans, short term loans, and short term fix and flip loans. Their loan guidelines are flexible, including rates ranging from 12%, terms up to 12 months, and loans with a maximum LTV of 65%. They primarily provide loans for single family homes and multi family residences.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, New Construction Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family

Areas Served: National

Lending Guidelines for Brisco Funding

Below are the general loan guidelines published on the Brisco Funding 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 Brisco Funding.

Loan Example 1

Brisco Funding makes a private money loan to Ben for a rehab project in Corpus Christi, TX, on a house that is listed for $210,000. The borrower will be required to contribute 15% of the sales price in cash to closing based on a 85% loan-to-value stipulated by the lender. This makes the principle note from Brisco Funding $178,500. The rate on the note is 11% for a length of 12 months and the company requires a two point origination fee at closing. The interest payments are to be paid on a monthly basis and the principle will be repaid after the sale of the property.

Ben will need to contribute $31,500 at the closing (15% on the 85% loan-to-value), plus he will pay the $3,570 origination fee. After the loan closes, he will pay the lender $1,636 in monthly interest fees, or 11% multiplied by $178,500 divided by 12 months in the year. Assuming Ben sells the rehabed project for $294,000 at the end of the 12 month term, his total profit (not including renovation costs) would be $60,795. This is calculated by taking the purchase price ($294,000) and subtracting the original principle ($178,500), the origination cost ($3,570), the cash he contributed to closing ($31,500), and the total interest expenses ($19,635).

Loan Example 2

Randy locates a property in Tacoma, WA to remodel and re-sell. Since he does not have enough cash to buy the property outright, he takes a fix and flip loan from Brisco Funding with the following parameters:

$360,000 sales price
75% loan to value (LTV)
12 month term
12% rate of interest
4% origination fee

Randy plans to list the project when the note expires for $504,000. If he accomplishes his goal, the deal numbers would be as follows:

$504,000 sales price
- $270,000 principle (75% LTV)
- $90,000 down payment (25% on 75% LTV)
- $10,800 origination points (4% of the $270,000 principle)
- $32,400 interest payments (12 months x 12% interest)
-----------------------
= $100,800 total profit (does not include taxes or rehab costs)

No Reviews Yet

Brisco Funding currently has no reviews. To add a review now, click the link below:

Write a Review for Brisco Funding