Broadmark Capital

About Broadmark Capital

Broadmark Capital is private lender based in Seattle, WA. They provide funding in Arizona, Colorado, New Mexico, Nevada, Utah, and California. Their lending focus is mainly on commercial loans. They offer rates starting at 11% . They make loans on many property types, including multi-family units, apartments, offices, retail spaces, hotels and motels, storage facilities, senior housing communities, mixed use spaces, undeveloped land, churches, warehouse buildings, industrial facilities, and medical offices.

Loan Types Offered: Commercial Hard Money Loans

Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Land, Church, Warehouse, Industrial, Medical

Areas Served: AZ, CO, NM, NV, UT, CA

Lending Guidelines for Broadmark Capital

Below are the general loan guidelines published on the Broadmark Capital 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 Broadmark Capital.

Loan Example 1

Dixie runs a small business in Los Angeles, CA and decides to buy a new office building to run her operations. Because she is unable to secure a standard loan from a bank, she turns to Broadmark Capital for a commercial hard money loan. The list price of the new building is $280,000 and the lender agrees to contribute 55% of the purchase price (the loan to value / "LTV"), or $154,000. The remaining $126,000 will need to be funded by the borrower when the sale is closed. The parameters of the note include a 12 month term, a 13% rate of interest, and 4 origination points paid by Dixie when the transaction closes. Dixie may eliminate the loan at any point by paying off the $154,000 in principle, but she will be required to make $1,668 /month interest payments ($154,000 principle x 13% interest rate / 12 months per year) in the interim, or up to the point the loan expires. Because there is not a pre-payment penalty, the only other expense she would have to pay is the $6,160 origination fee which she will pay at closing.

Loan Example 2

Christopher locates a house in Los Angeles, CA to renovate and re-sell. Because he does not have enough cash to buy the property outright, he takes a hard money loan from Broadmark Capital with the following parameters:

$210,000 sales price
60% loan to value (LTV)
12 month term
13% interest rate
4% origination fee

Christopher plans to sell the property at the end of the term for $304,500. If he accomplishes his goal, the deal numbers will be the following:

$304,500 sales price
- $126,000 principle on note (60% LTV)
- $84,000 down payment (40% on 60% LTV)
- $5,040 origination fee (4% of the $126,000 principle)
- $16,380 total interest paid (12 months x 13% interest)
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= $73,080 total profit (does not include taxes or renovation costs)

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