Pyatt Broadmark Management

About Pyatt Broadmark Management

Based in Seattle, WA, Pyatt Broadmark Management is a hard money lender offering loans throughout Washington, Oregon, and Idaho. They provide fix and flip hard money loans, buy and hold loans, hard money loans for commercial properties, and new construction loans. Their loan guidelines are versatile, including terms between 6 months and 1 year. They offer loans on numerous types of properties, including single family homes, multi family, office buildings, retail units, industrial buildings, mixed use buildings, apartment buildings, and raw land.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans

Property Types Covered: Single Family, Multi Family, Office, Retail, Industrial, Mixed Use, Apartment, Land

Areas Served: WA, OR, ID

Licenses: NMLS #1429744, NLMS #1577940

Lending Guidelines for Pyatt Broadmark Management

Below are the general loan guidelines published on the Pyatt Broadmark Management 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 Pyatt Broadmark Management.

Loan Example 1

Harvey finds a condo in Portland, OR to remodel and re-sell. Since he doesn't have enough cash available to acquire the $260,000 house outright, he decides to take out a private money loan from Pyatt Broadmark Management. The lender agrees to issue a loan with a 60% loan to value (LTV) so they are willing to extend $156,000 on the house. The parameters of the loan dictate a 11% note for 6 months. They also stipulate a 1 point origination fee, that will also need to be paid at closing.

Therefore, the borrower will be required to contribute a $104,000 down payment plus pay a $1,560 origination fee. The monthly interest-only payments will then total $1,430 to Pyatt Broadmark Management. If Harvey sells the property for $351,000 after 6 months, he would realize a gross profit of $80,860 after deducting the principle amount of $156,000, the funds contributed at the close of $104,000, the origination fee of $1,560, and the aggregate interest payments of $8,580. This gross profit doesn't account for renovation costs.

Loan Example 2

Pyatt Broadmark Management issues a fix and flip loan to Benita for a renovation project in Portland, OR. The deal includes the following:

$270,000 sales price
75% loan to value (LTV)
18 month term
12% rate of interest
4% origination fee

Benita intends to sell the house when the note expires for $405,000. If she achieves this goal, the deal numbers will be as follows:

$405,000 sales price
- $202,500 loan principle (75% LTV)
- $67,500 down payment (25% on 75% LTV)
- $8,100 origination points (4% of the $202,500 principle amount)
- $36,450 interest payments (18 months x 12% interest)
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= $90,450 total profit (doesn't include taxes or renovation costs)

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