private commercial lending Archives — Houlihan & O'Malley Commercial Services

$300,000 Second Mortgage – YMCA – Tarrytown, NY

Rich Salinaro / November 18, 2019 / Leave a Comment

$300,000 Second Mortgage – YMCA – Tarrytown, NY

H&O Capital Funding recently closed a second mortgage for the YMCA of Tarrytown. The Y had to make some much needed repairs and needed a quick cash infusion to get it done. H&O Capital was able to get it done in under two weeks, allowing for the YMCA to make the needed repairs before the winter sets in.

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.

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$300,000 First Mortgage – Vacant Land – Yonkers, NY

Rich Salinaro / September 20, 2019 / Leave a Comment

$300,000 First Mortgage – Vacant Land – Yonkers, NY

H&O Capital Funding recently closed a loan on a vacant parcel of land in SouthEast Yonkers, just north of the Bronx. The borrower approached H&O needing a small loan to help him complete his $1m+ purchase, where he plans to build a retail store to take advantage of its busy location. While it took some time to iron out the particulars, the deal closed in a flurry of activity as the sellers were leaving the country for an extended period of time and needed to close in under a week. H&O Capital was able to get it done on just two days notice, making for one happy borrower (and seller!).

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

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$285,000 First Mortgage – Freestanding Restaurant Property – Glen Cove, NY

Rich Salinaro / February 5, 2019 / Leave a Comment

$285,000 First Mortgage – Freestanding Restaurant Property – Glen Cove, NY

Another day, another quick closing for H&O Capital Funding! The borrower here got into the restaurant business a few years ago and within his first three weeks there was a fire and the entire restaurant went up in flames. After spending two years, and the majority of his own savings rebuilding the restaurant, the restauranteur and the landlord had a falling out. To make a long story short, there was a court ordered sale of the restaurant from the landlord to the restauranteur. In stepped H&O Capital Funding to get the restauranteur the funds he needed to close on the property. Despite a few hiccups along the way provided by the seller, H&O Capital was able to close the loan in just a month.

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

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Private Loan Requirements

Rich Salinaro / October 9, 2017 / Leave a Comment

Here is an outline of private loan requirements.

What Financials do you need to show to a private lender?
99% of the time there are no personal financials required, however, property financials will sometimes be requested depending on the property type, tenancy and ownership.

Credit scores, personal tax returns, etc. are almost never requested.

Is there a loan to value ratio that needs to be met?
Yes, though these can vary from lender to lender. Typically lenders will go up to about 70% LTV, but some go as high as 80% and others won’t go above 60%.
The LTV requirement can also vary depending on the property type. Land, for example, will max out around 50% LTV, as it’s a riskier asset. Another factor that may influence the LTV requirement may be the market climate. In a hot market Lenders are more likely to go to higher LTV’s than they would be in a cold market.
Do I need to show the property produces income?
Stabilized assets are always looked on more favorably by lenders as there is a cash flow to cover debt payments. But not all deals feature stabilized assets and Lenders understand this. Lenders do like to

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private commercial lending

$300,000 Second Mortgage – YMCA – Tarrytown, NY

$300,000 First Mortgage – Vacant Land – Yonkers, NY

$285,000 First Mortgage – Freestanding Restaurant Property – Glen Cove, NY

Private Loan Requirements

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