New York Hard Money Lenders

Top 20 New York Hard Money Lenders by Loan Count (Past Quarter)

According to Forecasa™, here are the Top Hard Money Lenders ranked by the number of loans* originated in New York from April 2026 to June 2026.

1. ROC Capital funded 192 loans
2. Broadview Capital funded 89 loans
3. Adirondack Trust CO funded 82 loans
4. Kiavi funded 69 loans
5. Constructive Loans funded 64 loans
6. RCN Capital LLC funded 54 loans
7. Housing Trust Fund Corporation funded 52 loans
8. Icecap Group funded 52 loans
9. Insula Capital Group LLC funded 51 loans
10. Velocity Commercial Capital funded 47 loans
11. Visio Lending funded 37 loans
12. Cattaraugus County Bank funded 35 loans
13. Battalion Lending LLC funded 31 loans
14. Branch Lending LLC funded 31 loans
15. LendingOne funded 27 loans
16. Resfin Partners funded 26 loans
17. American Heritage Lending LLC funded 25 loans
18. Conventus LLC funded 24 loans
19. Mako International LLC (Albany Hard Money funded 22 loans
20. Ys Capital Group funded 17 loans

* The number of loans funded are approximate and includes long-term rental loans.

Source: Forecasa (this is third-party data, not independently verified).

New York Hard Money Insights from a Local Lender

When it comes to asset-based hard money lending in New York, there have been some changes affecting lenders and borrowers throughout the state. According to Ed Gitlin from Tower Fund Capital, they are seeing a bit of a slowdown in the market because borrowers are facing lower appraisals than anticipated on the value of the properties compared to a year ago, and even within the last six months. This specifically is affecting bailout borrowers because the value of the property is reduced, and sometimes they don’t have enough equity for their next investment. Ed says, that because of this challenge many borrowers are only able to come in at 55% to 60% equity and it has forced them as the lender to lower their advance rate to those percentages. “Right now, we’re lowering our advance rate to about 55% to 60% because we’re anticipating an exit from our loans. In order for them to exit from our loans, they would have to refinance and cover the closing costs, which will bring them into 65% to 70 % loan to value. So if we were afforded 65% and we anticipated them exiting at 75% loans of value, now we are lending between 55% and 60% with anticipation that they’ll refinance between 60% and 65%,” Ed explains.

In the state of New York, the most common refinancing scenarios are primarily maturity defaults where the borrower needs to exit the loan. “Usually, these kind of borrowers, they lag in the fact that they start their process of refinancing way too late, and they don’t make the timeline, so they do get into a majority default and now they have to come out of that,” Ed explains. As a result, Tower Fund Capital has created an option for the payment of full borrower, where they’ll take a prepay payment as proof that the borrower is reliable. “Usually, on a regular loan, we’ll do a three month interest reserve, but in these cases, we’ll take a prepay in the six months to a year just to make sure that they can get out and demonstrate on the verification of mortgage payments that they accurately paid,” Ed says.

According to Ed, there remains to be a lot of competition among hard money lenders that lend primarily to borrowers with better credit. However, for Tower Fund Capital, the competition remains low because they are a niche company that primarily deals with refinances and asset-based bailouts. “There’s really not much competition because the majority of [lenders] will not take late payments or bankruptcies or foreclosures of any sort. So we’re pretty niche without much competition. But if we were to come down in our rates and raise the credit worthiness of the borrower then the competition is still out there,” Ed states.

Out of the five boroughs in New York, Brooklyn remains the hottest market for hard money investment loans, even with valuations coming in a bit lower. Ed states that lenders outside of New York typically shy away from borrowers who want to invest in New York because of the tedious and lengthy foreclosure process. “New York is known for the legal system to be backed up, so it could take two, three, four, five adjournments of a case just to get in front of the judge. So it’s sometimes not even the position of the borrower, it’s really the bottleneck of the court system,” Ed explains. To mitigate this Tower Fund Capital has found that doing UCC foreclosures is a better outlet than real estate foreclosures.”We’ll foreclose on a pledge and then obtain a quiet title post auction if we will bid. So that’s how we’re mitigating the risk, Ed states. “Also, due to UCC foreclosure, it gives us the ability to be declared as the member of the entity. So it gives us an ability to collect rents or any income coming from the property in the meantime while we’re waiting for the quiet title,” he says. In addition, UCC foreclosures typically take three to four months if the borrower doesn’t put up any roadblocks, such as filing for bankruptcy.

For the rest of 2024 and 2025, Ed anticipates that the NPL (Non-Performing Loan) business will continue to grow. He advises borrowers to be more diligent in their investments, avoid poor risk management, and refrain from over-leveraging, especially for those with sufficient equity.

Tower Fund Capital provides asset-based debt solutions for the real estate industry. They offer a true hard money no-doc program that qualifies a deal based on the value of the asset being offered as collateral rather than credit scores or financial qualification of the borrower or the property. They predominantly provide loans for SFR, multifamily, and mixed use. They don’t have a maximum loan amount but their minimum is $250,000. They can close in as little as 3 business days once the full due diligence and title is cleared.

VIEW PROFILE