New Construction Loan – East Hampton, NY – $800,000
Nearly finished with their construction of a beautiful, 4,000+ SF single-family home in an exclusive East Hampton neighborhood, the borrowers had a small balloon payment coming due on their construction loan. With the project still yet to be finished many lenders were shying away from the deal. H&O Capital Funding stepped in and understood how far along the project was and immediately knew the value was not going to be a problem, even with potential construction delays. Three weeks later, the deal was done and the borrower had some breathing room to get the project finished up and sold.
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