HML Investments was able to expand its accounts to a max of $20 million in order to help more real estate investors purchase or refinance commercial and residential properties in California. These new funds hiked their original loan amounts that were capped at $10 million a year ago to another ten million making the company one of the most appealing hard money investors in California.
HML Investments finances hard money loans in the Los Angeles county, Orange county, San Diego, Ventura county, and Bay Area. The company works with real estate investors and property owners who are in need of capital, when traditional lenders, like banks and credit unions, are not willing to lend. It uses a common sense underwriting approach that focuses both on the property asset and the borrower.
HML Investments provides hard money loans to finance the purchase and rehabilitation of distressed and foreclosed single family residences, town-homes, condos, and 1-4 units. On the commercial side, the company helps investors snag and flip shopping centers, apartment buildings, mixed use properties, office buildings, and strip malls. Specifies Yanni Raz, president and founder of HML Investments: “We love apartment buildings, single family residences, office building and shopping centers.”
As recently as December 2015, HML offered clients $50,000- $10,000,000. It can now expand that amount to $20,000,000.
Through the company’s website, a borrower can prequalify for a loan by filling out a simple form that asks for financing type, loan term desired, loan to value ratio and desired interest rate amongst other questions. Interest rates start at 7% and depend on the borrower’s property, financial situation and location. Loan to value is up to 75%. Terms range from three months to five years. HML Investments states that it lends hard money loans in California only and inspects all properties before lending.
Founded in 2004, HML Investments has received rave reviews from its borrowers who have noted their fast turnaround, flexibility, and aggressiveness. Borrowers point to the company’s tax-free, bad credit/ no-credit lending policy as well as its willingness to provide financing in a timely manner. The company is trusted by conventional lenders and has established long-standing connections with title and escrow companies which make their loan process fast and easy.
Says Raz: “Our goal is to give real estate investors the ability to get money to their projects really fast without asking for too many documents like banks do.” The money windfall helps:
“We will now be able to commit to more projects and larger loan amounts.”