1st AAA COMMERCIAL MORTGAGE LENDER DATABANK

THE COOLEST, MOST USEFUL, COMMERCIAL MORTGAGE LENDER IN THE COUNTRY


Fifteen Year Private Money Loans For Only 2.5 Points

and No Prepayment Penalty


BLACKBURNE & BROWN MORTGAGE COMPANY, INCORPORATED
4811 Chippendale Drive, Suite 101, Sacramento, CA 95841
E-Mail: george@blackburne.com Fax: (916) 338-2328 Voice: (916) 338-3232


COMMERCIAL MORTGAGE TERM SHEET


If you plain, old-fashion, need the money, honey - we are the right commercial mortgage lender for you. We are a hard money lender, and you know what they say about hard money lenders. We're eeeasy!

But Blackburne & Brown is an upside-down hard money lender. Instead of charging lots of points up-front, we charge only 2 .5 to 3.5 points up-front. And instead of making just the typical one or two year hard money loan, we make fifteen year loans! This allows you to use us as a very inexpensive interim lender, yet keep our money for as long as you need it.

How can we do it? Blackburne & Brown makes the vast bulk of its income off a very profitable 1.9% loan servicing fee that we charge our private investors. One hundred and ninety basis points?! That's huge. Conduit servicers earn a lousy 25 basis points, if they're lucky. No wonder we like long term loans, huh?

As a result, we are also very willing to finance many of the no-exit-strategy properties that no other lenders will touch. This includes restaurants, trailer parks, residential care homes, independent motels, car lots, churches, and even land - in addition to all the normal stuff.

And man, are we ever hot-to-trot! Our paperwork requirements are tiny - an old financial statement, two years' tax returns and some color photo's. And we'll approve your loan often the very same day we receive your package. Eight hour approval time. Can you live with that?

Okay, what's the bad news? Our rates are kinda high, typically 12.9% to 14.9%. But that's it. Our third party report fees are tiny when compared to most institutional lenders, and we do not charge any sort of application fee, inspection fee or good faith deposit. Zip-zilch-zero. Nada. The only bad news is our rate, and if you or your borrower only intends to use our loan for a year or two, the difference in rate is a small price to pay for speed, convenience, and a complete freedom from any prepayment penalty.

The bottom line is this: Do you, or does your client, really need the money? If so, we will be your super-hero.


TERMS

Minimum loan: $150,000
Maximum loan: $1,700,000


12.9% - 14.9% fixed for the first 5 years, adjustable semi-annually thereafter.
..........Rate after 5 years is tied to one year constant maturity Treasury securities (Index).
..........The margin is computed the day of approval by subtracting the Index from the start rate.
..........One year Treasuries as of 6/30/97 were 5.65%
2.5 points + $950 (maybe 1.5 points for a gorgeous property less than 10 years old)
30/15
No prepayment penalty
Assumable
Legal fees in California: $600 Outside of California: $2,000 to $3,000
Third Party Reports
..........General Certified Appraisal: $1,900 to $2,800
..........Toxic Report: $1,075- $2,500

LOAN-TO-VALUE RATIOS

65% maximum LTV on rental-type commercial properties (maybe 70% if less than 10 years old)
..........Apartment Buildings (5+ units)
..........Office Buildings
..........Retail Buildings
..........Strip Centers and Shopping Centers
..........Industrial Buildings and Warehouses
..........Auto Repair Buildings
..........Mobile Home Parks and Trailer Parks
..........Mini-Warehouse (Self Storage)
..........Mixed Use Properties
55% maximum LTV on business-type properties
..........Hotels and Motels
..........Restaurants and Bars (unless the building is basically just a box - then maybe 65% LTV)
..........Residential Care Homes, Nursing Homes and Convalescent Hospitals
..........Gas Stations, Churches, Nudie Bars, etc.
40% maximum LTV on land* ready economically to be developed right now
25%-35% maximum LTV ratio on land* in the path of growth but not yet ripe
10%-25% maximum LTV on remote land* (with the personal guaranties of strong borrowers)


WILL THE RATE BE 12.9% OR 13.9% OR 14.9%?

Most of our loans today are at 13.9%
12.9% if the property is pretty and less than 10 years old and the borrowers are clean and strong
*All land loans are at 14.9%+ and 3.5 points for three years interest only


OKAY, YOU'RE SOLD. NOW WHAT?

Please fill out the following form:

Name
State
Property Type
Work Phone
Home Phone
E-mail
Desired Loan Amount

If you would, please provide us with additional information,
click on the menu bar and make your selections:


Please tell us what problems you've had so far, if any, finding financing for your project. Do you have any special needs or requests? Tell us about your property, its occupancy and condition. Is this an "A" deal, a "B" deal or a "C" deal? The more you share with us, the better job we can do in finding for you the ideal lender.


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