Hard Money Lenders FLORIDA
Hard Money Lenders New York
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- Rate 10.99%
- 12 Months
- Points 2.5%
- 14 Days to Close
Why We’re The Best Hard Money Lender In New York
We pride ourselves on being one of the best hard money lenders in New York for Fix and Flips, GUC, Rentals, and Multifamily investments.
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Competitive Terms
We provide competitive Terms on New York investment property loans.
New York Fix and Flip Loan Rates range from 10.5%-11.25% and a 1.5%-2.99% Origination Fee. DSCR Loan Rates range from 6.5% to 7.99% and 1.0% Origination Fee.
See our Loan Products Section for a detailed pricing breakdown of each Florida loan product.
Simple Online Application
Real Estate investors can apply online, get pre-approved, or schedule a call in 2 minutes. Working with Ridge Street is simple and fast.
Start your simple online application today. Learn More
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Quick Turn Around
Our team is always available to take your call. If you submit a Quick Application or a Pre-Approval Application we’ll get back to you within 1 business hour. We can fund your project in 7 days.
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Reliable Financing
Integrity and honesty are the foundations of our business. When we commit to a loan, we make sure you close on time.”
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New York Hard Money Loan Products
New York Fix and Flip Loan
Funding For Purchase + Rehab
$50,000 up to $3,000,000
Interest Rate 10.5%-11.25%
Origination Fee From 1.5%
Up to 90% of Purchase and 100% of Rehab
Fix and Flip Loans For Beginners Allowed
New York DSCR Loan
30 Year DSCR Loans For Rental Properties
Ground Up Construction
For New Builds and Construction Completion
Up to $3,000,000
Interest Rate 10.99%-12.25%
Origination Fee From 2.0%
Up to 75% of Purchase and 100% of Construction
Up to 90% of LTC
New York Hard Money Loan process
Our hard money lending process for New York investment properties is simple and quick. Ridge Street closes loans in as little as 7 days.
Apply Or Get Pre-Approved Online
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Receive your Term Sheet
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Submit Docs
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Appraisal or BPO
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Closing
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What are DSCR Loans used for in Texas?
1. New York City
2. Brooklyn
3. Long Island
4. Syracuse
5. Buffalo
What are Hard Money Loans Used For In New York?
Real Estate Investors in New York use hard money loans to purchase, rehab, and construct investment properties.
A hard money loan is an “asset-based” loan in which the loan amount is based on the as-is value and after repair value of a property as well as the credit scores of the borrowing company’s owners.
Hard money loans allow New York real estate investors to secure financing for fix and flips, ground-up construction, and rental properties through an LLC or a Corp without using their personal income.
For most hard money loans, investors will have to bring a 10%-20% down payment and can use the hard money loan to finance the remainder of their project.
As New York real estate investors acquire more experience, hard money lenders like Ridge Street will increase their leverage and require less cash at the closing table.
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Real Estate Investors in New York use hard money loans to purchase, rehab, and construct investment properties.
A hard money loan is an “asset-based” loan in which the loan amount is based on the as-is value and after repair value of a property as well as the credit scores of the borrowing company’s owners.
Hard money loans allow New York real estate investors to secure financing for fix and flips, ground-up construction, and rental properties through an LLC or a Corp without using their personal income.
For most hard money loans, investors will have to bring a 10%-20% down payment and can use the hard money loan to finance the remainder of their project.
As New York real estate investors acquire more experience, hard money lenders like Ridge Street will increase their leverage and require less cash at the closing table.
Best Cities To Invest In Real Estate
In New York
New York City (Manhattan)
Manhattan, NY, remains one of the most iconic and dynamic real estate markets in the world, offering unparalleled investment opportunities. As the economic and cultural epicenter of New York City, Manhattan attracts professionals, businesses, and tourists globally, driving consistent demand for residential, commercial, and short-term rental properties. Its diverse economy, anchored by finance, technology, media, and healthcare, ensures resilience even in fluctuating markets. With high property values and potential for significant appreciation, Manhattan offers investors opportunities in luxury rentals, condominium developments, and mixed-use properties for exceptional long-term gains.
Brooklyn
Brooklyn, NY, has transformed into a premier real estate investment destination, blending historic charm with modern appeal. Known for its vibrant neighborhoods, thriving arts scene, and cultural diversity, Brooklyn attracts a wide range of renters and buyers, from young professionals to families. The borough's proximity to Manhattan, combined with its distinct identity, has spurred significant demand for housing, driving property appreciation. Opportunities abound in multifamily properties, brownstone renovations, and rental investments, making Brooklyn a dynamic market for investors seeking growth and strong returns.
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Long Island
Long Island, NY, offers a unique and diverse real estate market, characterized by suburban charm and proximity to New York City. Known for its affluent neighborhoods, beautiful beaches, and excellent schools, Long Island attracts families and professionals seeking a balance between urban accessibility and a quieter lifestyle. The region’s strong job market, bolstered by sectors like healthcare, education, and technology, supports steady housing demand. With opportunities in single-family homes, luxury properties, and rental investments, Long Island provides a stable and lucrative market for real estate investors.
Buffalo
Buffalo, NY, is an emerging real estate market offering attractive opportunities for investors seeking affordability and growth. The city's revitalization efforts, including waterfront developments and a growing tech and healthcare sector, have spurred economic activity and increased housing demand. Known for its affordable property prices and steady rental market, Buffalo appeals to both local residents and those relocating for its cost of living and quality of life. With opportunities in rental properties, fix-and-flip projects, and multifamily developments, Buffalo presents a promising market for long-term investment potential.
Frequently Asked Hard Money Loan Questions
How do I qualify for a hard money loan in New York?
To qualify for a hard money loan in New York with Ridge Street you need:
A Credit Score of 640+
A profitable deal with at least a 10% ROI
An LLC or a Corporation Registered In New York
What types of properties can I finance with a hard money loan in New York?
Ridge Street finances the following property types:
Residential 1-4 Units
Multifamily 5-50 Units
Commercial (Select properties)
What are the interest rates and terms for hard money loans in New York?
“Depending on the sponsors experience and credit profile Rates Range from 10.5%-11.5%. Ridge Street’s median rate for a hard money loan on a fix and flip in New York is 11.00% interest only with no pre-payment penalty.
How fast can I get a hard money loan in New York?
Ridge Street closes hard money loans in as little as 7-10 days.
Are there any state-specific regulations for getting a hard money loan in New York?
Ridge Street’s hard money loans are business purpose loans. This means that we can only lend to borrowers with entities (LLC or Corp) registered in New York.
Can I use a hard money loan to finance a fix and flip in New York?
Absolutely. This is the main use of a hard money loan in New York.
What is the loan-to-value (LTV) ratio for a hard money loan in New York?
There are a number of ratios that Ridge Street uses to determine the Loan Amount. Put simply, for a first time investor we finance up to 80% of the Purchase + 100% of the Rehab. For an experienced investor, we finance up to 90% of the Purchase + 100% of the Rehab.
Can I use a hard money loan to finance a rental property in New York?
You can use a hard money loan to purchase and renovate a rental property. You can then refinance with a DSCR Loan. If the property is rent ready at purchase, there is no need for a hard money loan and you can go straight into DSCR financing.
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