The Bridge Loan Network (BLN) Loan Calculator is designed to help you quickly price out potential real estate loan scenarios for your customers. This simple yet effective pricing tool can get you the answers you need with just a few clicks of a button.
The Loan Calculator tool for partners with RCN Capital, is located in your Bridge Loan Network portal. After inputting the data of “Loan Program”, “Use of Funds”, and “Property Type”, it’s off to the races. Then be sure to input any and all additional information regarding the loan scenario and hit the “Calculate Pricing” button to see a general pricing quote for the deal. This feature puts all of your worries and concerns at ease, and is much easier to navigate compared to the Loan Sizer excel file.
This new pricing tool truly helps cover all the bases presenting information such as suggested loan terms, projected financials, estimated closing costs, and estimated liquidity requirements. Within each category each are also broken down sub-categories to show you exactly where each dollar is being spent. Keep in mind the estimated liquidity requirements are a crucial factor when pricing deals, so be sure to double check this section based upon the loan information that was initially provided.
Looking to edit some of the information to see a different outcome? No problem! Just be sure to hit “Recalc w/ Loan Amount” to get accurate results. And if you’re looking to share this information with your clients, BLN is already a step ahead of you! The “Download Pricing” button allows you to download the pricing term sheet you just calculated out and will be white labeled to your company. And lastly, if you agree with all of the information calculated out by the pricing tool and are looking to move forward with this loan, you can create this loan simply by hitting the “Create Loan” button. This will be created as an internal loan to your company only which means it would not initially be viewed by your loan officer until you send the loan to RCN Capital.
This pricing tool helps put you in control and gives you the information you need without having to contact your loan officer each time to get pricing for your customer. So log in and try it out with your next loan scenario!