Products and Services

Bridgelock Capital/Peak Finance Company, Residential offers the following Programs and Services:
 

• Conventional Long-Term Fixed-Rate Loan – A conventional long-term fixed-rate loan is the most common type of loan in which the interest rate remains fixed throughout the entire loan term, usually 15 or 30 years. The monthly payment towards the principal and interest remains the same throughout the loan period.  During the first few years, the borrower pays a larger portion of interest. The portion of the monthly payment towards the principal remains low during the initial period and then increases towards the end of the loan term.
   
• Adjustable Rate Mortgage – An ARM has an interest rate that initially remains fixed for a certain period of time after which is it adjusted at periodic intervals according to a pre-selected index. ARMs that offer low initial fixed rates allow borrowers to more easily qualify for these loans. An ARM may also be beneficial to those who plan to occupy their home for only a short time.
   

• Balloon Mortgage – A balloon payment mortgage is a mortgage that does not fully amortize over the term of the loan thereby leaving a final “balloon” payment due at maturity. Balloon mortgages are more common in commercial real estate than in residential real estate. As a result of the large payment due at maturity, borrowers will usually refinance the amount due or convert to a traditional mortgage option.
   
• Home Equity Loan – A home equity loan is a loan secured by real property you own, such as your primary residence. There are two popular types of home equity loans: a “fixed loan” or a home equity line of credit (HELOC).

           --Fixed Rate Home Equity Loans are usually best for borrowers who need a lump sum that will be
             repaid at a fixed payment and rate over a certain period of time ranging from 5 to 30 years. They
             offer the security of knowing that the payment and rate will not change during the term of the loan.

           --Home Equity Line of Credit - (HELOC) is a second mortgage and works the same way that a credit
             card functions. The borrower receives a line of credit which is secured by the home’s equity. The
             borrower makes interest-only payment for the initial years of the loan if and when the money is
             drawn from the account. The interest rate is determined by a variable index and a fixed margin
             throughout the loan term.
 

• Investment Property Loans – We provide stated income loans to individual investors as well as foreign nationals and corporate structures. We are expert at working to create products investors need to maximize capital.  Ask us about our REO Credit Facility and our Short Sale acquisition products.
   

• Jumbo – Non-Conforming Loan – A non-conforming loan is a home mortgage that does not meet the criteria of Fannie Me or Freddie Mac for various reasons including loan amount, loan characteristics or underwriting guidelines.  Non-conforming loans usually incur a higher rate and/or points.  One type of non-conforming loan is a jumbo loan.  A jumbo loan is a loan that is larger than $417,000.
   
• Second Home Loan – A second home loan is a loan specifically used to finance the purchase of a vacation or second home. Many borrowers will use equity from their primary residence to partially finance their second home.
   
• FHA and VA Loan – A government-insured loan designed to help those with lower credit scores and reduced assets. 100% of the funds may come from a gift. VA loans require zero down payment and are for active and retired military.
   

• Hard Money Loans

  Program Highlights:
--Commercial, Residential and Specialty Financing
--No FICO Underwriting
--30 Due in 5 and Bridge Programs
--Stated and No Doc Programs for Investment Properties
--Bankruptcy Buyouts
--Foreclosure Bailouts
--Interest-Only Programs
--No Seasoning or Cash-Out Limitations
--Cross-Collateral Options Available
--Loan Amounts:  $70,000 to $10 million
--Up to 30-Year Loan Terms
 

Our underwriting decision is based on a four principle approach:

LTV/APPRAISAL
We rely heavily on the appraisal for our underwriting decision.  All appraisals must be completed by an approved appraiser, in the name of Bridgelock Capital/Peak Finance Company, Inc., Residential and include a minimum of 5 interior photos – one of each room.  If one of these conditions is not met, we will require an appraisal review to be paid by the borrower.

ABILITY TO SERVICE DEBT
Although most of our loans are stated income, we do require that the borrower disclose their income from all sources.  The stated income must be reasonable for their line of work.  We may require a handwritten income letter at the time of signing confirming that the borrower is stating the correct income.

CLEAN TITLE
All liens of record need to be satisfied in full.   We prefer to have all collections and past dues paid through escrow.  The preliminary title report, title insurance and loan closing must be completed by a Bridgelock Capital/Peak Finance Company, Inc., Residential-approved agent.

LOAN STORY
Please provide us with a summary “loan story” explaining all derogatory items on the credit report as well as how the proceeds of the new loan will benefit the borrower.  All loans must be in compliance with the applicable state and federal laws and regulations.

BORROWER TYPES

• Individuals
• Estate and /or Properties in Probate
• Trusts
• Corporations
• Combine Multiple Borrowers or Multiple Entities in a Single Transaction
• Partnerships
• LLC's
   

ELIGIBLE PROPERTIES

• Single Family Residential
• Condos, PUD’s, Townhomes
• Multi-family
• Office
• Retail
• Industrial
• Mixed Use
• Health Care
• Places of Worship
• RV / Mobile Home Park
• Special Purpose