Mortgage Equities Inc

About Mortgage Equities Inc

Headquartered in Seattle, WA, Mortgage Equities Inc is an asset-based lender offering loans throughout Washington, Oregon, and Idaho. They provide loans for many different needs and situations, including ground up construction loans, bridge loans, and commercial hard money loans. Their loan parameters are flexible, including loan amounts ranging from $75,000 to $3,000,000 with a maximum LTV of 75% and terms between 6 months and 3 years. They make loans on numerous types of properties, including multi-family units, retail spaces, offices, apartments, industrial buildings, storage facilities, warehouses, industrial buildings, and medical buildings.

Loan Types Offered: Commercial Hard Money Loans, New Construction Loans, Bridge Loans

Property Types Covered: Multi Family, Retail, Office, Apartment, Industrial, Storage, Warehouse, Industrial, Medical

Areas Served: WA, OR, ID

Lending Guidelines for Mortgage Equities Inc

Below are the general loan guidelines published on the Mortgage Equities Inc 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 Mortgage Equities Inc.

Loan Example 1

So she can purchase a new office space for her business, Mildred turns to Mortgage Equities Inc to fund her acquisition with a commercial private money loan because she isn't able to secure a standard loan from a bank. The building costs $250,000. Mildred will need to put 15% down, or $37,500, because the lender will fund only 85% of the transaction (the loan-to-value or "LTV"). Accordingly, the principle on the loan will be $212,500. In addition, the lender requires a 5 point origination fee in combination with the 10%, 12 month term on the deal. They will not enforce a pre-payment penalty in case Mildred pays off the note before it expires. Mildred will need to pay the origination fee of $10,625 and will then begin making the interest payments of $1,771 ($212,500 principle x 10% interest / 12 months). She can repay the note early if she wants to because there is not a pre-payment penalty but she will be responsible for the original principle when she concludes the loan.

Loan Example 2

Warren is a an investor in Portland, OR. He purchases a run-down house for a renovation project and obtains a private money bridge loan from Mortgage Equities Inc with the following terms:

a) A $380,000 sales price, b) a 75% loan-to-value (LTV), c) a 12 month term, d) a 9% interest rate, and e) a 1% origination fee.

Warren intends to list the property at the end of the term for $532,000. If he achieves this goal, the outcome would be as follows:

$532,000 sales price
- $285,000 principle (75% LTV)
- $95,000 down payment (25% on 75% LTV)
- $2,850 origination points (1% of the $285,000 principle)
- $25,650 interest payments (12 months x 9% interest)
-----------------------
= $123,500 total profit (doesn't include taxes or rehab costs)

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