Getting Started

How Quickly Can Brighton Asset Management Close a Loan? Clean, complete loan files can close in as little as 7 to 10 business days depending on the complexity of the transaction, title, insurance requirements, and borrower responsiveness.

How Do I Apply? Borrowers can submit a loan application here. Borrowers may also contact the lending team at info@brightonassetmanagement.com.

What Happens After I Apply? Our underwriting team from our partners at The Hard Money Co. review the transaction, evaluates the collateral, and issues a term sheet if the transaction meets our lending criteria.

What Documents Are Typically Required? Borrowers should generally expect to provide entity organizational documents, borrower identification, financial information, and project-specific documentation.

For all loans, Brighton Asset Management typically requires:

• Completed loan application

• Unexpired government-issued ID

• Articles of Organization/Incorporation and EIN

• Operating Agreement or Bylaws

• Certificate of Good Standing

• Two months of business bank statements or Plaid verification

• Borrower real estate experience details (and supporting documentation if needed)

For purchase loans, additional documents may include:

• Fully executed purchase contract (with the borrowing entity as purchaser

• Earnest money receipt

• Detailed line-item scope of work and renovation budget

• Assignment agreement and wholesale fee disclosure (if applicable)

• Borrower experience verification, if requested

For refinance or cash-out loans, additional documents may include:

• Current property photos (including all rooms and mechanical systems)

• Mortgage payoff statement (if applicable)

• Verification of Mortgage (VOM)

• Detailed line-item scope of work if rehab funds are requested

• Letter explaining the purpose of the cash-out request

• Lease agreement (if the property is occupied)

• Personal Financial Statement (PFS) for loans over $500,000

• Additional documentation may be requested during underwriting depending on the specifics of the transaction.

Underwriting

What Is Underwriting? Underwriting is the process lenders use to determine whether they should approve your loan. At Brighton Asset Management, underwriting evaluates the property's value, borrower strength, exit strategy, liquidity, experience and project feasibility.

Does Brighton Asset Management Require an Appraisal? No. Brighton Asset Management does not require an appraisal but it is welcomed information if available.

Construction Draws

How Do Construction Draws Work? For renovation projects, Brighton Asset Management disburses a portion of the total loan proceeds at closing, with the remaining funds held in a construction repair escrow. As work is completed, borrowers submit progress photos for review by our team and Brighton Asset Management typically approves and funds the requested repair draw within 24 hours.

How Are Draw Requests Submitted? Borrowers submit draw requests with supporting photos showing completed work using a portal provided by Brighton Asset Management.

How Quickly Are Draw Requests Processed? Brighton Asset Management typically approves and funds requested draws within 24 hours.

Can I Receive Funds Upfront? It depends on the transaction structure. For most renovation projects, a portion of the loan proceeds is disbursed at closing, with the remaining funds held in a construction repair escrow. Additional funds are released through construction draws as work is completed and approved until the full loan amount has been disbursed.

Costs & Payments

What Are Loan Origination Points? Loan origination points are fees paid at closing for originating the loan expressed as a percentage of the total loan amount.

Does BAM Charge Interest? Yes. Brighton Asset Management loans accrue interest in accordance with the terms of the loan documents. Interest is charged monthly, and Brighton Asset Management's loans are structured as interest-only, meaning borrowers make monthly interest payments while the principal balance is due at payoff.

What Closing Costs Should I Expect? Closing costs may include title insurance, recording fees, legal fees, valuation expenses, lender fees, and other customary transaction costs. All costs are listed clearly on Brighton Asset Management’s Loan Disclosure Documents.

Are There Upfront Fees? No. Brighton Asset Management doesn’t charge any fees unless a loan closes.

What Is an Extension Fee? An extension fee is a fee charged when a borrower requests additional time beyond the original 6-month loan maturity date.

Are There Prepayment Penalties? No. Brighton Asset Management does not charge any prepayment penalties. Borrowers have the freedom to pay-off the loan at any point during the loan term.

Can I Pay Off My Loan Early? Yes. Brighton Asset Management does not charge any prepayment penalties. Borrowers may pay off loans at any point during the loan term.