Depends, and rarely. We focus on residential properties. However, if the right commercial property comes along and the deal makes sense, we will take a look at it.
No. We only fund 1st position loans.
We lend up to 75% LTARV
We average about 2 points.
Construction holdbacks are funds that we approve to be used to renovate the project. As our client, you will need to float a portion of the renovation and then order a draw inspection. We send an inspector out to look at the project. They then submit a report to us based on their findings. We wire the funds to you. Construction holdbacks are always reimbursements.
Sometimes 20%, sometimes none. It all depends on the deal. If that sounds like a broad answer, that’s because it is. Every deal is different. Let us look at deal and understand your needs and see if we can craft something that works for YOU.
100% financing loans are written for 6 months, down payment loans are written for 12 months
We typically like to order a BPO (broker’s price opinion) on loan amounts under $500,000 and appraisals on loans over $500,000. We can sometimes comp properties in house if we have to.
Anywhere from no down payment up to 15% of the total costs.
We typically write new construction anywhere from 6-18 months. It depends on the project size.
We typically like to order a BPO (broker’s price opinion) on loan amounts under $500,000 and appraisals on loans over $500,000. We can sometimes comp properties in house if we have to.
It is preferred. To get into our down payment option with lower interest rates, a minimum of 3 builds in the last 36 months is required. We do not always require experience on our 100% financing option.
We lend up to 75% of the ARV
We average about 2 points.
Construction holdbacks are funds that we approve to be used to renovate the project. As our client, you will need to float a portion of the renovation and then order a draw inspection. We send an inspector out to look at the project. They then submit a report to us based on their findings. We wire the funds to you. Construction holdbacks are always reimbursements.
On average around 30 days. The main slow down in our rental loans is waiting on the appraisal.
We typically charge points (anywhere from 0-2 points) and a $1,495 processing/legal fee.
Our rental loans are DSCR (Debt Service Coverage Ratio) loans. The income and expenses matter. In fact, they are the main driving force behind our terms. We want to ensure you are cash flowing. Why have a rental property if it’s not profitable?
No. Never.
Fill out the form below or give us a call for any questions you might have.
MJ Jannamon2021-12-31I was brand new to the entire process, Matt Podesto and his team worked with me every step of the way, making sure I understood and answered all questions that came up. They were very punctual and on top of it from the initial contact to the closing date. Requested my first contractor draw and within hours (not days or weeks) they already scheduled an inspection. Blown away by their service and care. My only regret is that I wasted time with other lenders before finding Black Label Capital. Don’t make my mistake, call Black Label first and get with Matt, he’ll take awesome care of you.
Jorge Rojas2021-12-30This is the best Hard Money Lender in whole Metroplex. Ease to wok with, I never had any issues with them.
Kaye Green2021-12-29This lender has been great to work with. Their process and customer service has exceeded my expectations. I'm always able to get in touch with my lender and he was able to thoroughly answer all my questions throughout the transactions. Will definitely recommend BLC to others.
Sam A2021-12-28Quick and super easy to deal with, we closed on a house in 48 hours, now I have 5 open loans with Matt, not to mention the personalized service that Matt provides.
MARGARITA GRAHAM2021-12-28Great communication throughout and quick responsiveness!
David Plowden2021-12-23I can't say enough about the process and customer service Black Label Capital provided my business in closing my loan. The process was seamless and they exceeded my expectations. I highly recommend Black Label Capital for all your lending needs.
Alex Pezeshki2021-12-23The staff has made it easy and understanding in dealing with funding. I have done two projects with Black Label Capital and I can't wait to do more with them!
Cleveland Robinson2021-08-06Good lender to work with. What makes them valuable is that there are no junk fees and their approach to lending is straight forward.I was very pleased with my transaction.
