Hard money, real fast
Expert direct lending for non-owner occupied single-family and 2 to 4 unit residential properties.
Bay Mountain Capital is your private real estate lender
Looking for that perfect residential property to renovate? Borrowing from BMC is a fast and easy process. Our residential real estate experts work to secure the necessary funding through a common-sense approach that ensures a quick closing.
Your resource for residential borrowing
As a private real estate lender, we provide unparalleled value in your residential investment decision-making process compared to traditional financing. More than half of our business consists of non-owner occupied single-family homes. Let BMC partner with you in your next residential investment.Watch The Video
Defined by our experience
Partnering with BMC for your residential real estate financing means leveraging our industry expertise and streamlined processes to ensure a quick close and advantageous deal for our borrowers.Meet The Team
BMC prides itself on providing our borrowers with industry competitive rates and complete transparency. There’s no bait and switch. Check out our rates below:
Acquisition and rehab, expansion/remodel, value add repositioning, bridge to refinance, cash-out refinance, new construction
$50,000 in primary markets and $75,000 in secondary markets
6 – 12 months
10.9% with a credit score above 680 and 12.5% below 680
Up to 100% of purchase and rehab
Up to 70% of ARV
2-3% depending on term plus a processing fee of $945
Appraisal and any other third party reports that may be required
Single-family, 2-4 unit residential, townhomes and condos
Asset based, however limited financial information may be required
In most cases, we can close within one business day of having a complete, eligible loan file including clear title and a completed appraisal
Lending Process & Requirements
- Complete our free online application
- Provide supporting documents
- Approve preliminary loan terms
- Finalized itemized rehab or construction budget
- Submit payment for appraisals & other possible underwriting costs
- Approve final term sheet
- Order title commitment
- Place property insurance
- Clear title issues
- Close and fund
Frequently Asked Questions
What is hard money?
Hard money loans are a form of private money financing that is used to purchase investment real estate that may not conform to conventional underwriting standards. Funds for hard money loans generally come from private individuals or from mortgage pool funds run by fund managers that raise capital from multiple individuals.
What are the benefits of using hard money?
Hard money lenders are able to approve and fund a loan much more quickly than traditional lenders such as banks. They do not require as much documentation because they are primarily concerned about the value of the real estate being used as collateral versus the credit and income of the borrower. Hard money loans often provide more leverage than conventional loans, allowing borrowers to rely less on their own or outside investors’ capital.
What are common purposes for hard money loans?
Hard money loans are offered for a variety of investment purposes including:
- Fix and flip loans which allow you to acquire, renovate and sell real estate;
- Bridge loans which help you close quickly on time sensitive investment loans;
- Cash out loans which allow you to refinance real estate you already own in order to obtain capital for another purpose;
- Construction loans whereby a borrower may be able to finance a portion of the site acquisition and much or all of the construction cost.
How should I choose a hard money lender?
First and foremost, choose a lender that is experienced with the type of loan that is being requested. The lender should understand the collateral and strategy and be able to structure a deal that offers you the opportunity to have a profitable outcome. A good hard money lender can often add value to the investment decisions that you must make. Next, verify that your lender has the capacity to make the loan and the capability of executing in the time frame required. Finally make sure that your lender has a reputation of integrity and conducts its business with honesty and transparency.
What types of property will Bay Mountain Capital lend on?
We lend on non-owner occupied single family residential (1-4 units), townhomes, condos, multifamily, commercial, land, and other special purpose uses.
What locations will Bay Mountain Capital loan hard money?
Currently we are lending in the major markets of Texas including Dallas, Fort Worth, Houston, Austin, San Antonio, Corpus Christi and the Rio Grande Valley. Bay Mountain Capital is also lending in Atlanta, Georgia. Smaller Texas markets and other major markets in the U.S. are possible on a case by case basis.
Is there a minimum credit score requirement?
No. We loan to borrowers that have many different financial circumstances. Your credit score will help us to determine how we might structure your loan and what interest rate you will be charged.
Will Bay Mountain Capital lend to self-employed borrowers?
Yes. Bay Mountain Capital loans to both full time real estate entrepreneurs as well employed individuals who are seeking to supplement their income
Will Bay Mountain Capital loan to LLC’s or other types of entities
Yes, we can accept almost every type of legal entity as a borrower. The principle manager or managers will be required to personally guarantee the loan if there is an entity borrower.
Will Bay Mountain Capital loan to foreign individuals or entities?
Does Bay Mountain Capital have a minimum loan amount?
Yes, we have a minimum loan amount $50,000 in primary markets and $75,000 in secondary markets.
How do I get approved for a Bay Mountain Capital hard money loan?
Follow the Apply link on the Bay Mountain Capital website. Please fill out the application completely. The application will only take a few minutes. Someone from Bay Mountain Capital will contact you quickly, usually within the same day.
Can I get a prequalification letter from Bay Mountain Capital for my purchase offer?
To obtain a prequalification letter, follow the Get a Pre-Approval Letter link to obtain your letter.
Does it cost anything to apply?
No, applying is free. After you submit your application and provide us with the necessary information, we will send you a preliminary term sheet. If you decide to move forward, then you will need to return the term sheet signed and an appraisal will be ordered which you will be required to submit payment for directly to the appraiser.
Do you require an appraisal?
Yes, we require an appraisal which will value the property subject to the rehab or construction budget. This appraisal can be a valuable tool when you either sell the property or refinance into a long term loan.
How long will it take for me to close on my property with a hard money loan from Bay Mountain Capital?
This depends on how quickly we receive all of the necessary information about the property, and the borrower. Usually once we have the appraisal back, if title is clear we can close as quickly as one day. Generally, the entire process takes on average two weeks from application to close.
What documentation does Bay Mountain Capital require?
In addition to the online loan application we will need:
- An executed purchase contract if the loan request is for an acquisition;
- A detailed scope of work and cost estimates for any rehab or construction work;
- If you are borrowing through an entity, we will need formation documents and an operating agreement for the entity;
- Tax returns for the previous two years;
- Other limited information specific to your transaction.
What are the terms of a loan from Bay Mountain Capital?
Typically, our loans are for a term of 6 or 12 months with possible extensions available subject to Bay Mountain Capital approval. Interest rates generally start at 10.9% and there will be loan fees of 2-4% of the loan amount. You will also have to pay the cost of an appraisal and our processing fee of $945.
Will Bay Mountain Capital inspect the property?
Yes. At a minimum the property will be inspected by the appraiser during the appraisal process.
Who will service the loan after closing?
We service our loans here at Bay Mountain Capital in our Dallas office. Our pledge is that you will be treated courteously and your loan will be serviced with accuracy and professionalism.
Will I have to make monthly payments?
Yes, we require monthly payments. Typically those are interest only payments plus a tax escrow payment.
How will Bay Mountain Capital handle draw requests?
At your request, we will order an inspection of the property to determine how much of the scheduled work has been completed. Once we receive this report, we process your draw and fund the eligible amount to you by your choice of check, ACH or wire transfer. Generally, the entire draw process takes three to five business days from request to funding.
What if I need an extension?
Our 6 month loan program comes with two 90 day extensions built-in, which can be exercised at lender’s discretion (as long as the loan is in good standing) for a fee. Extensions on the 12 loan program can be considered on a case-by-case basis.
How can I obtain a payoff statement?
Just email our loan servicing department at firstname.lastname@example.org and we will provide you, your mortgage professional or your title company with a payoff statement, usually within 48 hours.
Can I be paid for referring business to Bay Mountain Capital?
Absolutely! We pay for referrals – please check out our Referrals information.
Can I take out another hard money loan even if I have not yet repaid my first loan?
Our business is built on repeat customers. As long as you have the experience and financial capability of handling multiple properties, we would like to be your lending partner!
People are talking about BMC
I have been a real estate investor for over 20 years in the Dallas area. I have dealt with many different Hard Money lenders during that time and I would have to say the service I received from Bay Mountain is at the top of the list. On a scale of 1 to 10 with ten being outstanding, I would rate Bay Mountain a 9.9. I just want to say thanks to Angie, Rachel, Wayne, Daniel and everyone that works there, and I hope to work with you all again.
You guys have been just wonderful to work with. And I am not just blowing smoke. a little feedback here coming from a guy who has been a broker for decades and dealt with many hard money lenders – I don’t believe I have run across such efficiency where everyone is proactive with emails, everyone is copied on emails, the follow up is there, and the speed is there. Just really impressed. It’s been so smooth. I look forward to doing more deals with you all.
I appreciate all that your team at Bay Mountain has done for me and your attentiveness always proves to be ‘above and beyond’!
I would like to mention that I have had a great experience with Wayne Corley and Angie Arrington. They have been very cordial, professional and extremely helpful. I also want to mention that the new system for proof of funds letters is a great system and makes things easier for everyone.
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