New York Bridge Lenders for Residential Properties
Are you seeking a bridge loan secured by residential investment property in New York? On this page you'll find a list of select bridge lenders for investment real estate and funded deal summaries. We have a separate page for commercial real estate. To get a 1st lien bridge loan, you must have at least 30% equity. It's not possible to get a bridge loan for a primary residence (owner-occupied) or 2nd home.New York is an enormous state, and most bridge lenders are selective about where they lend, so filter the lender list by selecting a region:
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RCN Capital
Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans
Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
Park Place Finance
Nationwide Direct Private Lender for Residential Real Estate Investors
HouseMax Funding
Hard Money Loans to Fund Your Next Big Project
American Heritage Lending
Direct Lender for Residential Real Estate Investors Nationwide
Pimlico Capital
Direct Lender for Real Estate Investors | Established in 2016
LendingOne
Rental, Fix & Flip, Construction & Multifamily Bridge Loans Nationwide
IceCap Group
Flexible & Friendly Funding for Property Investors Across the Country
Crosby Capital USA
Fast Bridge Loans for Multifamily and Residential Investment Properties
Tower Fund Capital
Direct Lender for Purchase & Refinance Bridge Loans
Gelt Financial, LLC
Creative Private Financing for Commercial Real Estate since 1989
Lima One Capital
The Nation's Premier Lender for Real Estate Investors
Conventus
We Fund Fast While Providing Excellent Service and Competitive Pricing
Kiavi
Servicing 12,000+ Real Estate Investors Across the Country
Stormfield Capital, LLC
Direct Balance-Sheet Lender for Investment Properties
New York Bridge Loan Interest Rates
According to the loan documents software company, Lightning Docs, the average interest rate for New York bridge loans in the 1st quarter of 2024 was 12.00%. The average loan amount was $732,611. These stats are the average of 94 short-term loans (including rehab and ground-up construction loans) funded for properties in New York between January 1, 2024 and March 31, 2024 by multiple bridge lenders that use Lightning Docs as their preferred software provider to prepare loan documents.
According to private lending data provider, Analytics Logics, the average interest rate for bridge loans secured by residential investment properties in New York in the 1st quarter of 2024 was 11.53%. Lenders charged an average of 2.4% points (origination fee). The average LTV (loan-to-value) for bridge loans in New York was 62%, and the average loan amount was $1,190,000. These stats are the average of all the loans which were funded between January 1, 2024 and March 31, 2024 by the many private lenders who use Liquid Logics’ loan origination software to manage their lending operations.
Top 10 New York Bridge Loan Lenders
According to Forecasa™, here are the Top 10 Bridge Lenders ranked by the number of bridge loans originated in New York in the last 12 months from March 2024.
- ROC Capital
- Broadview Funding
- Adirondack Trust CO
- Icecap Group
- RCN Capital LLC
- Constructive Loans LLC
- Velocity Commercial Capital
- Kiavi
- Bayport Funding LLC
- Insula Capital Group LLC
Forecasa™ provides analytics data for New York bridge loans on a quarterly basis. You’ll find their top lenders data for many other states on our platform.
Funded Residential Bridge Loans in New York
Purchase Bridge Loan for SFR Short-Term Rental in Water Mill, New York
$3,280,000
Conventus LLC, a direct private mortgage lender, funded a $3,280,000 1st lien position purchase bridge loan for the acquisition of residential investment property in Water Mill, Southampton, NY. We financed 80% of the $4,100,000 purchase price, while the Borrower contributed 20% cash at closing. The property is a large single-family residence with a separate guest house. The investment plan is to renovate both the main house and the guest house, as well as add a tennis court to increase value. The decor was outdated so the Borrower plans on investing $50,000 in cosmetic upgrades using their own cash. As an exit strategy, they plan to refinance into permanent debt and keep the property as a short-term rental. The guest house can be rented separately from the main house. The property was vacant at closing. The interest rate was 12.75%. We charged 3% origination points, and the broker earned a $24,600 commission. The loan term was set at 12 months interest-only with no prepayment penalty. This SFR purchase bridge loan was funded in January 2023.