Brookview Financial
2321 Whitney Ave, Suite 102
Hamden, CT 06518
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About Brookview Financial
Brookview Financial is hard money lender headquartered in Hamden, CT. They offer funding all across the United States. They offer lending solutions for many different needs and situations, including short term fix and flip loans, commercial loans, and investment property loans. They offer loans on all the following property types: single family, multi-family, apartments, office buildings, retail units, and mixed use spaces.
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Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans
Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Mixed Use
Areas Served: AL
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Lending Guidelines for Brookview Financial
Below are the general loan guidelines published on the Brookview Financial website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/AFix and Flip Loans
Loan Amounts: $50,000 - $3,000,000
Available Rates: 7.99% - 11.99%
Typical Terms: 1 months - 12 months
Points Charged: 1% - 4%
Max Loan-to-Value (LTV): 50%
Max Loan-to-Cost (LTC): 50%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: N/A
Time to Close: 1 DaysCommercial Hard Money Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): N/A
Max Loan-to-Cost (LTC): N/A
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by Brookview Financial.
Loan Example 1
Brookview Financial issues a private money loan to Dorothy for a rehab project in Baton Rouge, LA, on a property that is listed for $170,000. The terms of the deal include a 55% loan to value (LTV), so she must bring 45% of the price as cash at closing, making the principle note amount $93,500. The note is interest only, with monthly payments, and is for 12 months at 10% interest with 1 points paid at closing.
In addition to paying the $935 origination fee, Dorothy will also have to fund $76,500 of the purchase with her own cash, or 45% of the sales price. Brookview Financial will collect $779 in monthly interest payments from the Dorothy. This is computed by taking the total note amount of $93,500, multiplying by the 10% rate of interest, and then dividing that amount by 12. If Dorothy achieves her goal of a $255,000 sales price when the loan expires, she would earn a gross profit of $74,715 after repaying the principle on the note and deducting the cash she contributed at closing, the origination fee, and the total interest payments.
Loan Example 2
Darlene locates a duplex in Staten Island, NY to remodel and resell. Because she does not have enough cash to buy the property outright, she takes a fix and flip loan from Brookview Financial with the following parameters:
$360,000 purchase price
65% loan-to-value (LTV)
12 month term
14% rate of interest
5% origination feeIf Darlene succeeds in her goal of a $432,000 sales price, the outcome of the deal will be the following:
$432,000 sales price
- $234,000 principle on note (65% LTV)
- $126,000 cash paid at closing (35% on 65% LTV)
- $11,700 origination points (5% of the $234,000 principle)
- $32,760 total interest paid (12 months x 14% interest)
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= $27,540 gross profit (does not include taxes or rehab costs) -
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