Info For Private Lending Borrowers In The Mid-Atlantic Area
Need more information before you get started? See below
Types Of Hard Money Loans We Offer
Fix & Flip Loans
Our Fix & Flip loans are intentionally designed to help real estate investors earn a profit. Your loan with us will be based on the home’s value after the planned repairs are complete.
Buy And Hold/Long Term Loans
Our long term loans don’t have the excessive underwriting that most traditional banks make borrowers go through. We work with a close network of lenders, and we will help you find the best rates and terms for your property.
Bridge Financing
Traditional lenders will not provide bridge financing as they deem it to be too risky, however, at Bay Funding we understand this type of financing is needed when a borrower has a lot of projects going on and just needs short-term working capital.
We Analyze Every Deal To Make Sure You'll Come Out Ahead
We want every one of our borrowers to profit from their investments
We strive to ensure that our clients are pursuing profitable investments. At Bay Funding a representative will contact you immediately to gather any additional information needed to provide you with the most accurate analysis of your prospective investment.
We want all of our borrowers to make informed decisions about any potential real estate investment opportunity through accurate feedback, and research that showcases your realistic expenses and potential profit.
Frequently Asked Questions About Bay Funding
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Will you lend on a house that is my primary residence?
No. Hard money loans are commercial loans and because of this we are not able to lend on owner occupied homes. Learn More
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Is there a prepayment penalty associated with the loan?
No we do not charge any prepayment penalties. You are allowed to prepay the loan at any time. Learn More
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How much do I have to put into the deal?
We will lend at 80% of the purchase price and 100% of the rehab cost. You will need to bring 20%, plus your closing costs, plus origination fees to the table at closing.
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Are your loans fully amortizing?
No, our loans are “interest only” loans with a maturity of 12 months.
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Will you extend the term of the loan if needed?
Yes we are happy to work with you on an extension if that is necessary. Some deals take longer than anticipated, so these situations come up from time to time.
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Can I roll the closing costs and origination points into the loan?
No. Our view is that the borrower should have some amount of capital and money into the deal. Learn More
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What types of properties will you lend on?
We lend on single family and small multi family properties. We do not lend on commercial properties such as office buildings, retail strip centers, warehouses, or flex spaces.
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What documents will I need to submit?
We will need 2 years of tax returns, a bank statement showing how much money you currently have, and a personal financial statement. Other documents may be requested.
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What are the costs?
Bay Funding rates start at 12% interest rate and 3 points.
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How quickly can I get funded?
We can typically fund a loan within 48 hours as long as all of the required documents have been sent to us.
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What are your loan application fees?
We charge $50 per person when we run a prospective borrowers application.
The Mid-Atlantic Lending Partner Your Project Needs
Our team of experienced real estate professionals will work closely with you throughout the entire process.
We will:
- Analyze your deals & cash flow models
- Offer advice on property acquisition
- Quickly review any and all loan application submissions
We only want to provide profitable loans that are able to be repaid. This is why we will put in the work upfront to make sure the loan is a win for the borrower and a win for Bay Funding. Call 443-465-6277 or email: pfreeze@baymgmtgroup.com to hear more about our company or with any questions you may have.
