Bridgelock Capital Announces Lower Rates & Fees For Their Adjustable Rate Mortgage Product

Posted on July 17, 2007

Woodland Hills, CA July 17, 2007 – Bridgelock Capital (www.bridgelockcapital.com) has announced lower rates and fees for their 228 NoFICO Adjustable Rate Mortgage product, with rates as low as 9.490% and fees as low as par; notably lower than the majority of Hard Money Lenders nationwide. The program features a no FICO minimum, flexible pre-payment options, cross collateralization, and 24 hour underwriting. Loan amounts range from $100,000 to $3,000,000+ for residential properties. Bridgelock boasts an unlimited cash-out option and interest only payments for the first 5 years.

Currently, the real estate industry is at a crossroad; the tightening of credit regulations in 2007 is expected to decrease new home sales by 20% and lead to a 35% to 45% decline in housing starts for the remainder of this year, as well as 2008. As more than 25 major sub-prime lenders have closed their doors, it becomes more difficult for borrowers to find suitable financing options. Brent Houston, COO of Bridgelock Capital, stated "the sub-prime market has taken an extreme turn within the past couple of months and many of these niche lenders no longer exist. Even with today’s downturn, borrowers need access to alternative methods of capital. Bridgelock is paving the way for this unconventional approach to lending through our common sense underwriting approach.. What separates us, is the ability to portfolio our products, allowing flexibility, quickness and creativity to develop the right solutions for our borrowers."

Bridgelock Capital is a hard money lender that provides asset-based lending for borrowers and/or properties that do not meet conventional underwriting guidelines. With over 30 years of experience, Bridgelock Capital incorporates technology and autonomy, to ensure that each transaction is successfully completed in a timely manner.