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$200,000 First Mortgage – Single Family Investment – Oakland, NJ

H&O Capital Funding was recently contacted by a mortgage broker they’ve done substantial business with over the past few years. The difference in this deal was that the broker himself was the investor on a property. It was a small deal, but the broker felt he was getting a steal and just wanted to close quickly. H&O Capital stepped up and provided the broker with a $200,000 first mortgage loan that he needed to get the deal closed in two weeks.

We are a direct money lender, with funds available for loans backed by real estate holdings. We can offer fast approvals on short-term financing and long-term loans in amounts up to $15 million. Unlike some commercial lenders, we regularly fund smaller loans ranging from $150,000 to $1 million. Working with our private investment partners, we move to close deals quickly. We lend money for many reasons: To help borrowers buy property, fund a balloon payment, stabilize a property threatened with foreclosure, or operate until permanent financing can be obtained.

For more information on loans that we offer, visit our website.…

$1,060,000 First Mortgage – Single Family Investment – Mamaroneck, NY

H&O Capital Funding was  contacted by a local investor who needed to refinance the loan on his single family home in Mamaroneck, NY. The borrower ran into some credit trouble during his divorce and wasn’t able to seek conventional financing at this time. In stepped H&O Capital to get him the funds he needed to close, and the time he needs to straighten out his credit. There were some minor hiccups (small title issues) along the way that delayed the closing, but H&O Capital was still able to close the loan in under four weeks.

H&O Capital is  a direct money lender, with funds available for loans backed by real estate holdings. We can offer fast approvals on short-term financing and long-term loans in amounts up to $15 million. Unlike some commercial lenders, we regularly fund smaller loans ranging from $150,000 to $1 million. Working with our private investment partners, we move to close deals quickly. We lend money for many reasons: To help borrowers buy property, fund a balloon payment, stabilize a property threatened with foreclosure, or operate until permanent financing can be obtained.

For more information on loans …

$1,100,000 Second Mortgage – Four Family Home – Brooklyn, NY

H&O Capital Funding recently was contacted by another one of their repeat borrowers for a commercial loan. The borrower needed some quick cash for a deal he was working on in Chicago. Being the savvy investor that he is, the borrower has maintained a very small first mortgage on the property leaving plenty of equity in case he needed it. When the opportunity arose in Chicago, the borrower immediately contacted H & O Capital for a $1,100,000 second mortgage that he needed in under two weeks.  H&O Capital was able to get the investor the funds he needed in under two weeks, helping to salvage the deal out in Chicago.

Financing a commercial or multifamily residential real estate project has gotten more difficult in recent years. Banks rarely understand the upside potential that small, community-focused developers and entrepreneurs see. The result: endless red-tape that leads to missed opportunities.

There’s no time to jump through hoops to secure funding when great deals become available. H&O Capital Funding is a direct lender and never acts as a broker. H&O Capital can give you the loan you need quickly and efficiently, so you …

$2,500,000 Second Mortgage – Retail/Apartment complex – Harlem, NY

H&O Capital Funding was contacted by two investors needing some short term funds for a deal they were working on and a second mortgage loan is what they needed.  Thankfully, they had a lot of equity in a property they own in Harlem with 54 apartments and a retail store. H&O Capital was able to give them $2,500,000 to help them move along their other deal. H&O Capital was able to get them the funds they needed in under two weeks, making for some very happy investors.

H&O Capital Funding  has helped countless real estate buyers, sellers, lessees and lessors achieve their goals. Our legacy is unwavering commitment to the communities we serve. Houlihan & O’Malley Commercial Real Estate Services specializes in four distinct, yet overlapping, areas of business: Commercial Brokerage services, Private Mortgage services, Appraisal Services and Advisory services.

For more information on loans that we offer, visit our website.…

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 cannot pay. In reality, this leads to a lot of gray areas that private lenders do their best to avoid.

• What if the loan request on an owner occupied property were specifically intended for business purposes?
  Unfortunately, the way the predatory lending laws are written don’t allow for this either. However, if the borrower owns a commercial or residential investment property that is owned by an entity (Corp., LLC, etc.) lenders are able to mortgage that property and cross collateralize the loan with a personal home. That would be viewed as a strictly business transaction.

• Are there exceptions, where you would offer a hard money loan on an owner occupied property?
  As answered above, a cross collateralization can work. Also,

$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 Capital three weeks to close the loan.

For more information on loans that we offer, visit our website.…

$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 several weeks. Once the clean environmental reports came back, the investor was able to borrow the entire purchase price by cross collateralizing the loan with a 3-family property he also owned free and clear. It only took H&O Capital one and a half weeks to close the loan once the clean environmental reports came back.

For more information on loans that we offer, visit our website.…

$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 ended up including the third property. H&O Capital is understanding and has given the borrower release prices in case the investor decides to pay down the mortgage in the future. At the closing, the borrower raved about H&O Capital’s flexibility and ease to deal with. Despite delays on the negotiated tax lien payoffs and a few other hiccups, H&O was able to close the deal in just three weeks.

For more information on loans that we offer, visit our website.…

$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 properties are in excellent location in downtown Montauk, NY. H&O Capital was able to get this done in under a month to help the borrower out with some unexpected bills he had coming due.

For more information on loans that we offer, visit our website.…

$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 borrowers.

For more information on loans that we offer, visit our website.…