BRC Loans
700 S. Flower Street, Suite 2650
Los Angeles, CA 90017
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About BRC Loans
BRC Loans is a private money lender in Los Angeles, CA offering funding throughout California. They provide lending solutions for a variety of scenarios, including fix and flip loans, short term loans, and private commercial loans. Their lending parameters are flexible, including loan amounts ranging from $100,000 to $2,500,000 with a maximum LTV of 70%, rates starting at 9.9% , and terms between 6 months and 1 year. They offer loans on numerous types of properties, including single family units, multi-family units, apartment buildings, office units, retail storefronts, hotels/motels, storage buildings, senior facilities, mixed use buildings, warehouse buildings, industrial facilities, and medical buildings.
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Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, Bridge Loans
Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical
Areas Served: CA
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Lending Guidelines for BRC Loans
Below are the general loan guidelines published on the BRC Loans website. Please confirm all terms and rates directly with the lender.
Fix and Flip Loans
Loan Amounts: $100,000 - $2,500,000
Available Rates: 9.9% and up
Typical Terms: 6 months - 12 months
Points Charged: 2% and up
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): 100%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 10 DaysCommercial Hard Money Loans
Loan Amounts: $500,000 - $3,000,000
Available Rates: 8.9% and up
Typical Terms: 6 months - 18 months
Points Charged: 2% and up
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): 100%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 10 DaysBridge Loans
Loan Amounts: $500,000 - $3,000,000
Available Rates: 8.9% and up
Typical Terms: 6 months - 18 months
Points Charged: 2% and up
Max Loan-to-Value (LTV): 70%
Max Loan-to-Cost (LTC): 100%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: N/A
Time to Close: 10 Days -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by BRC Loans.
Loan Example 1
Krystal takes a fix-and-flip loan from BRC Loans in order to remodel a townhouse to flip in Los Angeles, CA. The price of the property is $260,000. The loan to value (LTV) on the note is 75%. This means Krystal will have to bring 25% of the purchase price to the closing and the principle will be $195,000 on the loan. The rate on the note is 12% for a length of 18 months and the company requires a three point origination fee at the closing. The interest is to be paid monthly and the principle amount will be paid back after the property sells.
Therefore, the borrower will have to contribute a $65,000 down payment plus pay a $5,850 origination fee. The lender will collect $1,950 in monthly interest from the borrower. This is computed by taking the total note value of $195,000, multiplying by the 12% rate of interest, and then dividing that amount by 12. If Krystal accomplishes her goal of a $312,000 total sales price when the loan term expires, she would collect a gross profit of $11,050 after re-paying the principle amount and subtracting the money she brought to closing, the origination fee, and the total monthly interest payments.
Loan Example 2
Willie is a real estate investor in Los Angeles, CA. He buys an older townhouse for a renovation project and takes out a hard money loan from BRC Loans with the following terms:
a) A $230,000 sales price, b) a 70% loan-to-value (LTV), c) a 6 month term, d) a 11% interest rate, and e) a 1% origination fee.
If Willie achieves his goal of a $345,000 sales price, the final numbers of the deal would be as follows:
$345,000 sales price
- $161,000 principle (70% LTV)
- $69,000 cash paid at closing (30% on 70% LTV)
- $1,610 origination fee (1% of the $161,000 principle amount)
- $8,855 total interest paid (6 months x 11% interest)
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= $104,535 total profit (doesn't include taxes or rehab costs) -
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