There are many NY hard money lenders. We happen to be one of them. Based on Long Island, we are doing hard money lending in all of NY. Recently we have funded many deals in the NY area.
Are you looking for a higher loan to value for your deals? Well look no further!
We are lending up to 60% arv on rehab loans -
And were lending up to 65% on cash out and commercial loans
Or call us at 516-526-8445 for an instant decision.
Our most recent hard money loans in NY have been on apartment buildings in Brooklyn. We just funded an 8 unit property with a value of $800,000, the borrower owned the property in his personal name, and we were able to get him a 2 year loan of $400,000. The borrower was using the funds to rehab 6 of the units and pay the existing note on the property. The time to close this hard money loan was under 10 days.
Another loan we just funded was in a gated community on long island's north shore. The borrower owes just over $250,000 to another private lender, and we gave her a 50% loan to value against the current 30 day sale value of the property of $850,000 for a loan of $425,000. This loan was completed in just under 5 days .
We also funded a 2 unit investment property in Westchester, NY that had been owned by the borrowers family for over 100 years. This was a smaller loan of $150,000 on a property worth just over $650,000. This loan was done with no documentation, and the hard money loan closed in 5 days. This was done with just a quick walkthrough of the property, and the borrowers attorney and our attorney worked on the closing documents together to ensure a quick and easy close on the property.
June 2013 We funded at 1.7M loan in Bridgehampton on a 2nd home owned by an LLC with a walkthrough appraisal and closed in 4 days at 11% for 1 year with no prepayment penalty.
When your dealing with a NY hard money lender you should make sure that they are the actual check writer, or they are in control of making the decisions for the check writers. This will ensure that your loan closes quickly and easily.
NLD Settlement can ensure a quick closing on all of your hard money deals from the leading NY Hard Money Lenders.
To see our loan parameters in NY click this link http://www.hardmoneyman.com/hardmoneylendersny.htm