We are SkyBeam Capital.
We Make Hard Money Lending Easy.

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We are excited to serve our customers, so feel free to reach out to us by phone, email, or in person!

 
 
 
 

Frequently Asked Questions

 
Who do you lend to?
We only lend on non-owner occupied properties. We lend to the title holder on the property, which must be a business entity, typically a corporation or an LLC.
What is hard money lending?
Hard, or private, lending is commercial lending on real estate that is generally for short term use to acquire and/or renovate property and is based primarily on the quality of the asset (the property) not the income or credit of the borrower.
Are there minimum credit requirements to obtain a loan?
A borrower’s credit is only a minor factor in our underwriting. We prefer to see a credit score of 620 or better, but the stronger the asset, the less a borrower’s credit matters.
Do you only lend in Georgia?
Yes, at this time we are only lending in Georgia. Our value is in being your LOCAL, direct lender. So, we only lend where we have a local presence and expertise.
Do you work with brokers?
YES! We are happy to work with brokers and will protect your commission and client relationship. We are in the long-term relationship business, not the short-term transaction business.
How much experience do I need to get a loan from you?
More experience will generally mean more favorable terms. We work with experienced investors and first-timers.
Can I prepay my loan before it’s due date?
Yes, we never charge a pre-payment penalty for our loans.
Will you service my loan post-closing, or will I have to deal with a new company once we close the loan?
We do NOT sell our loans to any third parties, as most lenders do. You will deal with SkyBeam Capital throughout the life of your loan.
What are your fees?
Before we ask for ANY fees, we will have a conversation with you about the property and your plans for it. We’ll give you our initial feeling about your valuation expectations and whether we feel we can do the loan you are requesting, pending other underwriting data. We will give you a formal term sheet that spells out all the details we expect for your loan. Once you approve the term sheet, we charge an application fee to cover our initial property analysis (including meeting you at the property!), our credit & background reports on any guarantors, and the cost of getting our attorney to start reviewing title. You will also need to pay for an appraisal up front. We have an underwriting fee charged at closing along with our loan origination fee. If you have a construction holdback on your loan (for a rehab), each draw has an inspection fee. You decide how many draws you want to have so you control the number of those fees.
Is my payment interest only (IO) or principal and interest (P&I)?
Most of our loans are interest only, but we may do a P&I loan if we both agree it is a good idea for your circumstances.
How does the draw process work on construction (new construction or fix & flip/refi) loans?
You will pay for and complete work on the property and then call for an inspection. SkyBeam Capital will send an inspector to the property to evaluate the state of completion of the work according to the schedule planned for the content of the draw. Based on the information in the report, we will fund that draw based on the percent complete within 2-3 business days of the inspection. It is best to request the inspection to be scheduled when you project to be complete with that draw’s items rather than waiting until you are complete, as it may take a couple of days to schedule the inspection.
Should I add any contingency funds to my budget?
Yes, you should always add 5-10% to your budget to cover the unexpected.
What are origination points or "points"?
Origination points, often simply referred to as "points", are used to calculate an upfront fee that lenders charge to issue a loan. Such an upfront fee allows lenders to avoid prepayment penalties and still make profitable loans. One point is equal to 1% of the loan amount.
What is your down payment requirement?
This will depend on a variety of factors, but generally we require a borrower to come up with at least 15% of the purchase price as a down payment.
Do you require insurance?
Yes. We require both lender’s title insurance and a builder’s risk/homeowner’s insurance policy naming us as the mortgagee and paid for the term of the loan at closing.
How do I apply?
First, let’s talk about your project. You can call us at 404-793-2323, email us at loans@skybeamcapital.com, or complete this Inquiry Form.
 
 
 

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We would like nothing more than know that you have had every question answered and every concern addressed. Please email us with any questions/thoughts you have so that we can ensure a fantastic lending experience!