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Gauntlet Funding is a New York based private funding group comprised of experienced and knowledgeable industry professionals who specialize in direct private lending and distressed asset financing. We provide loans to residential and commercial real estate investors in the New York metropolitan area and Florida. We are dedicated to our clients, providing both industry expertise and quick closings at competitive terms.
Unlike most lenders, Gauntlet Funding is a multi-million dollar backed investment company and the sole decision-makers on any property that we approve to finance, partner, sell or purchase. We never deploy any “middlemen”, brokers or any other 3rd parties when it comes to making our business decisions, which means that you will always deal directly with a Gauntlet Funding principal on every single deal.
Property Geographic Area Details
NYC metro area, Philadelphia, Connecticut, Florida
Loan Amounts
$100,000 to $4,500,000
Interest Rates
7.99% to 13%
Max Loan-To-Value
70.00%
Max Loan-To-Cost
90.00%
Origination Fees
2% to 2%
Loan Terms
12 months to 360 months
Lien Position
- 1st
Loan Purpose
- Investment Acquisition
- Investment Refinance
- Improve Subject Property
- Use Equity to Invest in Another Property
- Value Add Project
- Development Project
Property Occupancy
- Vacant
- Tenant Occupied 100%
- Owner Occupied Commercial
- Owner Occupied Residential
Property Types and Loan Types
Collateral Types
- Residential Property
- Commercial Property
Property Types
- 2-4 Units Residential
- Bed and Breakfast
- Child Day Care
- Commercial Condominium
- Condominium
- Hotel
- Mixed-Use
- Multifamily
- Office
- Portfolio of Commercial Properties
- Portfolio of Residential Properties
- Retail
- Single Family Residence
Loan Types
- Private Money
- Hard Money
- Residential Bridge
- Residential Fix and Flip
- Residential Rehab and Rent
- Residential Ground-Up Construction
- Commercial Long-Term
Specialty Loan Types
- Residential Long-Term Rental
- Commercial Permanent Financing
Purchase Loan
Max Loan-To-Purchase Price
90.00%Borrower Must Have Property Under Contract
yesWill Provide Proof of Funds Letter
yesWill Consider Lending on Purchase from Auction
yesAllowed Source of Borrower’s Equity
- Own Cash
- Partner
- Family
Rehab Value Add Loan
Experience Required
noMinimum Number of Value-Add Projects Completed by Borrower
0Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100.00%Interest Charged for Renovation Costs
Only on Funds DrawnTypical Number of Days for Funds Draw
2Construction Loan
Development Experience Required
noMinimum Number of Ground-Up Construction Projects Completed by Borrower
0Max LTC for Ground-Up Construction Costs
65.00%Interest Charged for Construction Costs
Entire Amount of Total Project CostsWill Lend on Partially Completed Construction Projects
yesDetails and Requirements
Typical Closing Time (Days)
14Fastest Closing Time (Days)
2Works With
- Brokers
- Borrowers
Payment Structure
- Interest Only
Payment Structure Details
We hand craft loans to make them succesfulPre Payment Penalty
no
Will lend to a foreign national
yes
As long as guarantor has a social security number and can form an LLC/Corporation we can fund!Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage
noWill Consider Collateralizing Multiple Properties in One Loan
yesWill Consider Equity Joint Venture
yes
This is typically for existing borrowers who we have formed a relationship with.Borrower Entity Types Considered
- LLC
- Corporation
Documentation Required
- Credit Report
- Bank Statements
- Financial Statements
- Loan Application
Personal Guaranty (Recourse) Required
AlwaysCredit Check Required
yesMinimum Credit Score Required
550Credit Check Description
We have a variety of different products and some of them are eliminated by lower credit scores. For the best deal terms a high credit score along with being experienced in the transaction types are preferred.Appraisal Required for Residential Property
Always Before FundingAppraisal Required for Commercial Property
Always Before FundingBroker Price Opinion (BPO) Accepted for Residential Property
SometimesBroker Price Opinion (BPO) Accepted for Commercial Property
SometimesFees
Deposit Required
$500.00 to $1,500.00
Depending on loan program and property type. When we can we typically don't require deposits for repeat borrowers.
Legal Fee
As per lawyer
Appraisal Fee
Charged by appraisal company
Minimum Origination Fee Amount
$225
Fees which are mandatory for all new borrower clients
- Deposit
Fees which are charged upfront prior to loan closing
- Deposit
- Appraisal Fee
Fees which are paid to a third party company
- Appraisal Fee
Legal Disclaimer
And and all programs are subject to change and the most up to date loan parameters may not be reflected on any brochure, website or other electronic documentation. All loan programs and parameters are subject to change.
Additional Details
Our philosophy is to keep the loans as fee-lite as possible and provide exemplary service to our borrowers.
For over 20 years, the industry experts at Gauntlet have been financing REOs, short sales, construction projects and all types of residential and commercial properties regardless of condition or situation.
Gauntlet Funding specializes in flexible private lending programs suited to fit today’s investor needs. In addition to our Private Money Programs, Gauntlet Funding is also a full-service lender providing conventional mortgages for both residential and commercial properties at very competitive rates and terms. Also, since Gauntlet Funding is a direct lender and NOT a broker, you can always rely on our expert advice, quick decisions, and fast closings!
Year Established
2013
Associations
- AAPL - Member
Office Locations
Gauntlet Funding - Melville Office68 S. Service Road, Melville, New York 11747
Gauntlet Funding - Queens Office
101-05 Lefferts Blvd, S. Richmond Hill, New York 11419
Primary Capital Source
- Own Funds
- Hedge Funds
Alternative Capital Sources
- Individual Investors
- Family Offices
- Bank Credit Line
- Private Equity Funds
- Friends & Family
Loan Structure for Majority of Loans
- Own Balance Sheet
- A/B Note Participation with Bank
Alternative Loan Structures
- Own Balance Sheet
- Multiple Investor Fractionalized Note
- Table Funding with Capital Partner
- Table Funding with Bank
- A/B Note Participation with Bank
Percentage of company’s lending business focused on private mortgage
100%
Percentage of Loans Secured by Commercial Property
10%
Percentage of Loans Secured by Residential Property
90%
Percentage of Residential Property Loans Which are Fix and Flip
75%
Percentage of Residential Property Loans Which are Buy and Hold
25%
Total Number of Loans Funded to Date
350
Total Loan Volume Funded to Date
$122,000,000
2017 Number of Loans Funded
110
2017 Loan Volume Funded
$35,000,000