Hard Money Loans in New York


Hard money lenders in New York are trusted professionals supporting real estate investors.

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Hard Money Lenders

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8 Best Hard Money Lenders in New York

Key Terms

  • Hard money loans provide a way for real estate investments to happen even when traditional lenders may not approve, such as in the case of fix or flip properties or rental investments.
  • Though they have a higher interest rate, these loans typically offer a number of key benefits to borrowers, including lower down payment requirements and fewer restrictions.
  • Finding the right New York hard money lenders is key as not all offer the same terms and conditions, and some are far more difficult to work with than others.
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You’re our first priority. We want you to understand how we make money. This post may contain affiliate links. Biglaw Investor may receive a commission at no additional cost to you if you click on the links in this article. This may influence which products we write about and where and how the products appear on a page. However, it does not influence our evaluations. Our opinions are our own. In some circumstances, if you work with us, we are able to provide an incentive to work with our advertising partners that is unavailable if you work with our advertising partners directly. Our partners cannot pay us to guarantee favorable reviews of their products or services. To read more about how we make money, click here.

New Silver Lending

(All 50 States Except AL, AK, ID, LA, NV, ND, OR, SD, UT, VT)

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usually responds within 30 minutes

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New Silver Lending

(All 50 States Except AL, AK, ID, LA, NV, ND, OR, SD, UT, VT)

Close deals faster with New Silver’s Fix-&-Flip Loans. Unlock streamlined loan approvals, instant term sheets, fast-tracked closing and repeat client discounts.

Get approved for a fix-and-flip loan in under 5 minutes, including instant term sheets and instant proof of funds.

Loan Products

  • Fix & Flip Loans: Hard money loans designed for purchasing, renovating, and reselling investment properties—perfect for executing quick fix-and-flip projects.
  • DSCR Loans: A 30-year fixed loan tailored for stabilized rental properties—ideal for growing your rental portfolio. No minimum DSCR required.
  • Ground Up Loans: Up to 100% construction financing for residential builders—ideal for developers ready to break ground.
Lender Facts
Minimum Loan

$100,000

What We Do
  • Fix & Flip Loans up to 90% LTC
  • DSCR Loans up to 80% LTV
  • Ground Up Loans up to 90% LTC
  • Interest-Only Repayments
  • Instant Proof of Funds
  • Instant Term Sheets
  • Discounts for Repeat Borrowers
  • No Hard Credit Pull
Not Available
  • No 100% Financing
  • No Properties with more than 4 Units
  • No Owner-occupied Properties
  • No Rural Properties
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Biglaw Investor Premium Lender

You’re our first priority. We want you to understand how we make money. This post may contain affiliate links. Biglaw Investor may receive a commission at no additional cost to you if you click on the links in this article. This may influence which products we write about and where and how the products appear on a page. However, it does not influence our evaluations. Our opinions are our own. In some circumstances, if you work with us, we are able to provide an incentive to work with our advertising partners that is unavailable if you work with our advertising partners directly. Our partners cannot pay us to guarantee favorable reviews of their products or services. To read more about how we make money, click here.

Ridge Street Capital

(AL, AK, AR, CO, CT, DE, FL, GA, HI, IN, IA, KS, KY, ME, MD, MA, MS, MT, NE, NM, NY, OH, OK, PA, RI, SC, TN, TX, VT, WA, WV, WI, WY)

Apply Now Contact Send Email

Online

usually responds within 30 minutes

Presented by

Ridge Street Capital

(AL, AK, AR, CO, CT, DE, FL, GA, HI, IN, IA, KS, KY, ME, MD, MA, MS, MT, NE, NM, NY, OH, OK, PA, RI, SC, TN, TX, VT, WA, WV, WI, WY)

Ridge Street Capital offers fast-closing, competitively priced 12-month fix and flip loans at 10.75% with quick online approvals for loans to purchase and rehab investment properties.

Request a term sheet or get approved online, and we’ll close your fix-and-flip loan in as little as 5 days. Ridge Street Capital offers hard money loans to both experienced and beginner investors at 10.75%, with amazing service, transparency, and rapid response times.

Loan Products

  • Fix and Flip Loans: 12 Month Loans to Buy, Renovate, and Sell or Hold residential investment properties across the US. Fix and Flip Loans cover up to 90% of purchase + 100% of rehab costs.
  • DSCR Loans: 30YR Fixed Rate DSCR Loans for purchasing and refinancing rental properties. Ridge Street’s DSCR Loans have low rates and are perfect for the BRRRR Investment Strategy.
  • Ground-Up Construction Loans: Up to 60% of land value + 100% of rehab for residential ground-up construction projects. Ridge Street’s GUC Loans cover 85% of the total project cost.
Lender Facts
Minimum Loan

$50,000

What We Do
  • Fix & Flip Loans Up To 90% of Purchase + 100% of Rehab
  • DSCR Loans Up To 80% LTV
  • Construction loans up to 85% LTC
  • 12 Month Loans With Rates of 10.75%
  • No Inspection Rehab Draws
  • Receive Draws in 24 hours
  • Soft Credit Check
  • No Pre-Payment Penalty
  • Get A Term Sheet Or Pre-Approval Letter Online
Not Available
  • No 100% Financing
  • No properties > 25 units
  • No owner-occupied properties
  • No credit score below 660

An internationally recognized state, New York has much to offer. There’s no doubt that New York City is the largest city in the state and the country overall, with about two-thirds of the state’s population calling it home. New York State is home to over 20.2 million people, making it the fourth most populous state. 

The state is easily recognized for the New York City area, including the Hudson River and the port area. It’s also home to 10 of the most popular tourist attractions, including Times Square, Niagara Falls, and the Statue of Liberty. Yet, New York is more than just the Big Apple. As a state, it has an economy that’s built on Wall Street, tourism, exports, agriculture, and energy production. Others know that New York also has some of the highest real estate values in the country.

As noted, New York’s real estate market is highly valued, especially in the New York City metro area. There is a lot of demand for housing in New York overall, especially in this region. The housing market in New York is highly competitive. The median sale price in June of 2022 was $428,825. That is a 13.1% increase from June of 2021. In some areas, there is significant demand and limited overall available property on the market. That’s data that comes from the New York State Association of REALTORS, Inc.

When it comes to the rental market, there is competition here. About 64% of people here own their homes, and 36% rent, according to the U.S. Census Bureau. More so, about 11% of the rentals in the state are vacant. That’s very subjective to the area of the state, though, with some areas having a much higher level of homes available than others.  

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How hard money loans work in New York

Hard money loans are real estate backed mortgages that are issued by private investors and companies rather than the traditional big banks. These loans are designed to be more flexible and accessible to qualified borrowers who may be turned away from loans from other lenders. Hard money loans are not simple to get, as lenders still require qualified borrowers with income and proven credit history. Yet, for some, they are one of the most important options available when it comes to buying property that’s considered high-risk.

If you don’t want to or can’t refinance but want new investment properties, a hard money loan might help you get the results faster and easier than a traditional loan. Whether in Manhattan, Brooklyn, Buffalo, Queens, Long Island, the Bronx, Westchester, or somewhere else, investing in rental property in New York might be a goal of yours, but you might need a private money lender to make the property purchase possible.

One of the ways hard money lenders stand out is by offering loans for property that is considered higher risk. This may include fix it and flip it types of homes where borrowers purchase property that may need repairs, make upgrades to it, and then sell it. These homes tend to carry more risk to lenders, as do rental properties from lesser experienced investors. To compensate for the higher amount of risk present in these homes, hard money loans tend to have a higher interest rate than others.

Hard money loans are asset-secured loans. That means that if the borrower stops making payment or otherwise defaults on the loan, the lender has the legal right to pursue legal action, which typically means that they will force the sale of the home through a foreclosure. In doing so, the lender will recoup some of the money it is investing into the loan. This is one of the reasons why these hard money lenders are willing to take on the more challenging and hard to finance loans like those related to real estate.

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8 Top New York hard money lenders

If you’re ready to learn more about the best hard money lenders lenders in New York, here are the top options we’ve found through our research.

1. Alpha Funding

Alpha Funding is based in New Jersey but lends in multiple states throughout the eastern seaboard. The management team consists of Michael Strasser, Matthew Weber, David Hansel and Mark Callazo. They offer a wide range of private money programs, such as fix-and-flip loans, new construction loans, DSCR loans and more.

We contacted Alpha Funding to learn more about their private lending business and here are some of the highlights:

  • Fix and flip properties, generally require a minimum FICO of 650 and can do a max 70% LTV
  • 12-month term with no prepayment penalty
  • No prior experience required
  • Single family and 2-4 unit multifamily properties are ok
  • Renal properties, generally require a minimum FICO of 680 and a max 80% LTV
  • Minimum DSCR of 1.0 required
  • Single family, 2-4 unit multifamily and condo/townhomes are ok properties

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

2. We Lend

We Lend is a private money lender based in New York. Co-founded by Ruben Izgelov, they focus on the typically suite of hard money products like fix and flip, bridge, rental loans, commercial real estate loans and construction loans.

We contacted We Lend to learn more about their private lending business and here are some of the highlights:

  • 90% LTV financing available
  • 100% of renovation financing cost available
  • Approved loans can close in 3-7 business days
  • Rental loans are available with no debt-to-income ratio, no tax returns and 30-year fixed, 5/1 and 7/1 options

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

3. Fund That Flip

Fund That Flip is a hard money lender based in New York that focuses on short term bridge loans for real estate investors looking to flip properties. Founded by Matt Rodak in 2014, Fund That Flip lends in most states.

We contacted Fund That Flip to learn more about their bridge loan program and here is what we found:

  • Up to 80% LTC and 70% ARV ratios for your project
  • Rates start at 9.99%
  • Direct lender with discretionary capital
  • Construction projects ok
  • 10% down payment required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

4. Easy Street Capital

East Street Capital is based in Austin, Texas but lends nationwide except in North and South Dakota. Founded by Stephen Hagerman in 2016, Easy Street Capital has over six years of experience in the real estate investing world.

We reached out to Easy Street Capital to learn more about their hard money loans and this is what we found:

  • Interest rates range from 6.9% – 10.9%
  • Points range from 2-3
  • There is a $1495 document fee
  • No minimum credit score required
  • Down payments of at least 10% required
  • Renovation financing ok
  • Fix and Flip loans do not typically have prepayment penalties

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

5. EquityMax

EquityMax is based out of Florida and most of its business in the state but is able to lend throughout the United States. Founded by Brad Emmer in 1990, EquityMax has decades of experience as a hard money lender.

We reached out to EquityMax to learn more about their hard money loans and these are the key highlights that you need to know:

  • Single Family Homes
  • 1-4 Multi-Unit Properties
  • Condos and Townhomes ok
  • Commercial property and Industrial Warehouses OK
  • Direct lender that has decision making over financing deals.
  • Can originate loans to individuals, LLCs, corporations, land trusts and self-directed IRAs.
  • No prepayment penalties
  • No minimum credit score required

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

6. LendSimpli

LendSimpli is a hard money lender based in Tampa, Florida. They can lend nationally in most states but may not be able to lend if the property is in a rural area. Founded by Brenden Crampton and Matthew Davies in 2018, they have nearly four years of experience in the private lending real estate investing market.

We reached out to LendSimpli to get more details about their bridge loan product and this is what we found:

  • Loan amounts up to $5 million for 1-4 unit properties
  • Loan amounts up to $20 million for 5+ unit properties
  • Single family (1-4 units)
  • Multifamily (5-20 units)
  • No owner-occupied properties
  • Loan terms 12-24 months
  • Interest-only payments with rates starting at 8.50%
  • Max LTC is 90% of project costs
  • Minimum credit score is 660
  • Prefer that you have at least two transactions in the past three years

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

7. HouseMax Funding

HouseMax Funding is based out of Austin, Texas but has a national footprint when it comes to real estate industry lending. Started by Jeff Fetcher and Alex Morris, HouseMax provides asset-based loan financing to investors for real estate transactions.

We reached out to HouseMax to learn more about their hard money lending program and here is what we found:

  • Minimum loan amount is $75,000
  • Lends up to 75% of the after-repair value (APV)
  • 1-3 points origination charge
  • 3 months reserves required
  • Direct lender that approves loans internally and funds using their own private capital.
  • Lends in urban and suburban communities in all 50 states.
  • Goal is to close loans in 10 days or less.
  • Specializes in fix & flip loans, construction and rental loans
  • Multi-family and commercial properties are ok

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

8. Stratton Equities

Stratton Equities is a nationwide direct hard money lender for real estate investors. Founded by Michael Mikhail in 2017, Stratton Equities has over five years of experience in the private lending market.

We reached out to Stratton Equities to get more information about their hard money lending program and here are some highlights:

  • Loan amounts from $100,000 up to $5 million
  • Investment properties only
  • Single-Family, Condos, Townhomes, Multi-Family, Commercial, Mixed-Use, Office, Retail, Industrial and Warehouse are all ok
  • Up to a 75% LTV
  • Rates start at 7.25%
  • Interest only payments
  • Loan terms are 9-24 months
  • Foreign nationals are eligible
  • No prepayment penalty option is available

When you’re ready to connect with a loan officer, use our form to quickly match with eligible loan programs based on your specific circumstances.

What are the main advantages of a New York hard money loan?

For borrowers, hard money loans in New York can prove to be very valuable. These loans typically require a borrower to have some credit history and income they can verify. However, with the right qualifications, borrowers may be able to obtain these loans to buy investment property that they may not otherwise qualify to purchase. In some situations, this means securing real estate for fix it and flip it properties or high-risk rental properties. Other conventional lenders may be less willing to offer these loans.

One of the differences in these loans is the low down payment requirement. Hard money lenders typically require borrowers to have 2% down. That means that they must pay at least 2% of the sales price of the home. The key to note about this is that most other conventional loans require as much as a 20% down payment, which may be financially out of reach or not feasible to many investors.

The amount the borrower can obtain is also dependent on the property value after repairs are considered. That means that if the borrower needs more than just the sale price of the home, such as extra funds to do repairs or upgrade the property, the lender may offer a loan that’s large enough to cover those needs, as long as it adds value to the home.

Hard money loans tend to be easier to obtain and faster, too. It may be possible to close on these loans within a matter of weeks. That’s much different than the average New York home closing process, which can take 60 to 90 days and, in some situations, even longer. For those who want to act on a deal, that’s critically important.

Looking for a hard money lender in a different state?

If you want to find the best hard money lenders in other states, click on your state below.

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Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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