Edward Voccola & Co

About Edward Voccola & Co

Edward Voccola & Co is hard money lender based in Boston, MA. They provide funding all throughout the US. They provide lending solutions for a variety of scenarios, including builder loans, hard money bridge loans, and commercial loans. Their lending parameters are flexible, including loan amounts ranging from $200,000 to $25,000,000 with a maximum LTV of 75%. They will make loans on most property types, including multi family residences, apartments, office units, retail units, hotels and motels, storage buildings, senior communities, mixed use buildings, warehouses, industrial buildings, medical buildings, raw land, and churches.

Loan Types Offered: Commercial Hard Money Loans, New Construction Loans, Bridge Loans

Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Land, Church

Areas Served: National

Lending Guidelines for Edward Voccola & Co

Below are the general loan guidelines published on the Edward Voccola & Co website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Edward Voccola & Co.

Loan Example 1

Edward Voccola & Co makes a hard money loan to Jared for the acquisition of a new retail space after he is denied a conventional mortgage loan by his credit union because he has a low FICO score. The building costs $180,000. Since there is a 50% loan to value (LTV) set by the lender, the principle will be $90,000. The additional $90,000 will be the responsibility of Jared. The lender additionally stipulates the following terms of the loan: 1) a 10% interest rate, 2) a 12 month term with interest only payments monthly, 3) an origination fee of 3 percent paid by Jared at closing, and 4) no penalty for pre-payment. Jared will need to pay an origination fee of $2,700 and he will then begin making the interest payments of $750 ($90,000 principle amount x 10% interest rate / 12 months in a year). He may repay the note early if he wants to because there is no pre-payment penalty but he will be responsible for the full principle amount whenever he eliminates the loan.

Loan Example 2

Lottie is a real estate investor in Washington DC, DC. She buys an older townhouse for a renovation project and obtains a hard money bridge loan from Edward Voccola & Co with the following features:

$360,000 purchase price
55% loan-to-value (LTV)
12 month term
14% interest rate
2% origination fee

Based on a $540,000 sales price at the end of the 12 month term, the outcome for the deal would look like the following:

$540,000 sales price
- $198,000 principle on note (55% LTV)
- $162,000 down payment (45% on 55% LTV)
- $3,960 origination fee (2% of the $198,000 principle)
- $27,720 total interest paid (12 months x 14% interest)
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= $148,320 gross profit (doesn't include taxes or rehab costs)