Ocean Capital Lending

About Ocean Capital Lending

Ocean Capital Lending is a Delray Beach, FL based private money lender who offers loans throughout Florida. Their focus is mainly on commercial loans. They will make loans on various types of properties, including multi-family, apartments, offices, retail units, hotels/motels, storage facilities, senior living facilities, mixed use spaces, warehouse spaces, industrial facilities, and medical offices.

Loan Types Offered: Commercial Hard Money Loans

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

Areas Served: FL

Licenses: NMLS# 392165

Lending Guidelines for Ocean Capital Lending

Below are the general loan guidelines published on the Ocean Capital Lending 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 Ocean Capital Lending.

Loan Example 1

In order to purchase a new retail space for his business, Tim turns to Ocean Capital Lending to fund his acquisition with a commercial hard money loan since he is unable to obtain a conventional mortgage loan from a bank. The lender contracts to a 65% loan to value (LTV) on the sale and the new property costs $180,000, so they will loan $117,000 and Tim will bring the other $63,000. The terms of the note include a 12 month length, a 13% interest rate, and 2 origination points to be paid by Tim at the closing. By the rules of the deal, Tim will pay an origination fee of $2,340 at the closing (2% x $117,000 principle value) and will then make payments of $1,268 per month ($117,000 principle value x 13% interest / 12 months in a year). Finally, he will make a balloon payment of the $117,000 principle value when the loan expires, or before if he decides.

Loan Example 2

Ocean Capital Lending issues a private money loan to Lilia for a remodeling project in Miami, FL. The deal dictates the following:

$320,000 sales price
50% loan to value (LTV)
6 month term
14% rate of interest
5% origination fee

Lilia plans to list the house when the note expires for $464,000. If she succeeds, the deal numbers would be as follows:

$464,000 sales price
- $160,000 principle (50% LTV)
- $160,000 down payment (50% on 50% LTV)
- $8,000 origination points (5% of the $160,000 principle)
- $11,200 total interest paid (6 months x 14% interest)
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= $124,800 total profit (does not include taxes or renovation costs)