Commercial Lending Blog

Posted on May,29 2018
by Brenda Sigurdson

owner occupied properties

– Owner Occupied Properties

Why is it that Hard Money Lenders don’t want to provide loans for residential properties that are owner occupied. Are lending requirements stricter on owner occupied loans? Due to predatory lending laws, requirements for loans on owner occupied 1-4 family dwellings are indeed stricter. Unfortunately, these laws are bit obscure, so there is no defined interest rate that is considered predatory. In essence, the laws are in place to protect consumers from ending up with loans they simply ca...

– $340,000 First Mortgage – Mixed-Use Property – Bronx, NY

$340,000 First Mortgage - Mixed-Use Property - Bronx, NY H&O Capital Funding was contacted by a local broker with a client down in the Bronx who needed some quick funds. The borrower used a mixed-use property with four apartment and three stores (one occupied by his business) as the collateral for a small loan for a cash out to pay some other debts he had accumulated. There were a couple of legal hurdles that had to be dealt with prior to closing but, despite this, it only took H&O Ca...

Posted on May,16 2018
by Rich Salinaro

owner occupied properties

Posted on May,16 2018
by Rich Salinaro

cross collateralization loan

– $295,000 First Mortgage and Cross Collateralization – Bronx, NY

$295,000 First Mortgage and Cross Collateralization - Bronx, NY H&O Capital Funding was contacted by another one of their repeat borrowers with an interesting proposition about two months back. The investor had won a former gas station property on Gun Hill Road at auction and needed a loan to close the deal. Thankfully for the investor, the deal was contingent on clean Phase I and Phase II environmental reports. These reports take time to develop, which was why the deal was delayed for se...

– $800,000 Blanket Mortgage – Three multi-family properties in Port Chester, NY

$800,000 Blanket Mortgage - Three multi-family properties in Port Chester, NY A young real estate investor came to H&O Capital Funding looking for a loan across two properties in Port Chester, NY. The investor currently had a blanket loan across all three multi-family properties he owned and was hoping to refinance and keep one of the three properties free and clear. Unfortunately, because of some IRS and State tax liens that he was looking to pay off, the numbers just didn't work and he ...

Posted on May,15 2018
by Rich Salinaro

blanket mortgage

Posted on May,14 2018
by Rich Salinaro

retail properties

– $500,000 Blanket 2nd Mortgage – Two Retail Properties in Montauk, NY

$500,000 Blanket 2nd Mortgage - Two Retail Properties in Montauk, NY H&O Capital Funding was contacted by one of their repeat borrowers for a quick $500,000 second mortgage on two retail properties in Montauk, NY. H&O Capital actually holds one of the first mortgages, $2,000,000 on a single story retail property with a 7-11 corporate lease. The other property used for additional collateral, is a two-story retail property with a restaurant and a large sporting goods store. Both propert...

– 425,000 First Mortgage – Two-Family Investment in Yonkers, NY

$425,000 First Mortgage - Two-Family Investment in New Rochelle, NY H&O Capital Funding was contacted by a local investor, with whom they had done a number of deals in the past, who needed some quick funds to payoff their current first mortgage. The home was recently renovated but due to some recent medical bills the borrower had fallen behind with his payments. H&O Capital was able to get this done within three weeks. We're always happy when we can help out one of our repeat borrower...

Posted on May,10 2018
by Rich Salinaro

First Mortgage

Posted on Mar,15 2018
by Rich Salinaro

Commercial Lending Blog Post

– What is a Loan to Value Ratio?

What is a loan to value ratio? This is simple enough to understand. The loan to value ratio is the dollar amount of the loan divided by the value of the property. As an example, a $65,000 loan on a property worth $100,000 would be a 65% LTV. Typically lenders will have a property appraised and lend off of the value given in the appraisal. How to work out a loan to value for a hard money loan? As previously mentioned, most lenders will only move forward with an appraisal in hand. Howeve...

– $2,700,000 Blanket Mortgage – Mixed-Use & Multi-Family Properties in Jersey City, NJ

$2,700,000 Blanket Mortgage - Mixed-Use & Multi-Family Properties in Jersey City, NJ In this deal, a real estate investor came to H&O Capital Funding looking for a loan across three properties in the heart of a revitalized Jersey City. Having long ago acquired the properties for a song, the borrower needed a cash out refinance to finish off renovations on one of the properties and use the extra proceeds as down payment for another investment. The three properties consist of a mixed-us...

Posted on Mar,14 2018
by Rich Salinaro

blanket mortgage

Posted on Mar,13 2018
by Rich Salinaro

First Mortgage Loan

– $500,000 First Mortgage – Yonkers, NY – 7-unit Apartment Building

$$500,000 First Mortgage - Yonkers, NY - 7-unit Apartment Building H&O Capital Funding was contacted by a local broker who was beginning to do his own investing in real estate. The broker found a great off-market deal for a 7-unit apartment building near downtown Yonkers but needed to close ASAP. Familiar with H&O Capital Funding, he knew we would be able to get the first mortgage loan done in time for the closing. Two weeks later, the new investor closed the deal and now has himself ...

– $310,000 First Mortgage – New Rochelle Two-Family Investment Home

$310,000 First Mortgage - Two-Family Investment in New Rochelle, NY H&O Capital Funding was contacted by a local investor who needed some quick funds to payoff their current first mortgage. The home was in great shape, but the borrower had a rocky relationship with his current lender. Despite numerous obstacles posed by the current lender, H&O Capital was still able to get this done within 35 days. Had the current lender not held the deal up it could have been closed in under two week...

Posted on Jan,29 2018
by Rich Salinaro

Investment home

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