Questions & Answers
Lending FAQ
Rates, leverage, eligibility, and how we close.
Q1What kind of loans do you make?
Interest-only, business-purpose loans secured by non-owner-occupied real estate. Programs include fix & flip, bridge, new construction, commercial, land, cash-out refinance, and manufactured homes.
Q2What is the maximum leverage?
It depends on the program. Fix & flip: 70% ARV, 80% purchase, or 100% renovation. Bridge, commercial, and cash-out: 70% LTV. Construction: 70% ARV or 85% of project cost. Land and manufactured homes: 65% LTV. Leverage is based on third-party appraised value.
Q3What are your interest rates and fees?
Rates typically range from 10.99% to 15.99%. Manufactured homes start at 11.99%. Origination is a minimum of 1% or $2,500 on most programs, and a minimum of 2% or $2,500 on land and manufactured homes. The document fee is $995.
Q4What loan sizes do you do?
$50,000 minimum, up to $10,000,000.
Q5Where do you lend?
Licensed in 49 states. We actively lend in Arizona, Texas, Florida, Georgia, and Nevada, and consider transactions in other licensed states case by case.
Q6Do you pull credit?
Credit is not primary; significant issues may affect terms. A background check is required for all borrowers.
Q7Do you lend on owner-occupied property?
No. Never, and with no exceptions. Every loan is business-purpose only. Every file includes a Certificate of Non-Owner Occupancy and a Business Purpose of Loan Certification.
Q8How fast can you close?
Response in < 24 hours. Term sheet in 2–3 business days. Funding in 5–10 days from a complete file.
Q9Is there a prepayment penalty?
No prepayment penalty.
Q10Can I extend the loan?
1% extension fee, case by case, not available on every loan.
Q11What insurance do you require?
Hazard insurance covering replacement value of improvements, written as a landlord or investment policy for non-owner-occupied property, with premiums paid for the 12 months following closing. Liability coverage of at least $1,000,000. Flood coverage where applicable. Lender named as mortgagee. The loan does not fund until policies are in place.
Q12What else is required of the borrower?
EIN and operating agreement if borrowing as an entity. Title insurance at 125% of principal balance. A guaranty is required. A background check is required. All terms are subject to change.
Q13Do you work with brokers?
Yes. Your borrower stays yours. Compensation is structured per transaction and disclosed on the term sheet. Submit through the same application and select Broker / Loan Officer.
Q14How is Barrett Capital different?
We originate inside an affiliated network — Barrett Financial Group, founded February 2001, with 3,000+ employees and 2,300 loan originators. Barrett Financial Group is not the lender. Barrett Capital Group is the lender, NMLS #181106.