New York Fix and Flip Lenders
Are you flipping residential properties in New York? On this page you'll find a list of fix and flip lenders throughout the state. Fix & flip lending is only for residential properties with 1-4 units. We have a separate page for lenders that offer rehab/value-add financing for other property types. The maximum loan-to-after repair value for most lenders in New York is 70%. You typically need some cash for the purchase (10%-20%) and some cash reserves.Since New York is such a big state, many lenders only consider properties in particular metro areas. Select a region to filter the lender list:
Searching...
Sorry, your search returned no results.
Malve Capital LLC
Fast And Easy Real Estate Loans. Closing as fast as 5 business days, subject to clear title.
Funded Fix & Flip Loans in New York
RCN Capital, a national direct private lender, funded a $1,365,000 1st lien position fix and flip loan for a single-family home in Bronxville, Westchester County, NY. We funded 100% of the $350,000 renovation budget and 75% of the $1,350,000 purchase price, while the Borrower contributed 25% cash to the purchase at closing. This new Borrower was an experienced investor (3+ verified completed projects). The after-repair value (ARV) of $1,950,000.00 evidenced a return of investment for the Borrower of just over 12.03%. The total loan amount was 70% of the ARV. The Sponsor on the loan had good credit and bank statements that evidenced sufficient assets/liquidity. The initial advance was 75.2% loan-to-value (LTV) and 75.2% loan-to-cost (LTC). The subject property is approximately 2,920 square feet. The Borrower plans to sell the property as an exit strategy. The interest rate was 11.49% and we charged 0.5% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in February 2024.Â
RCN Capital, a national direct private lender, funded a $451,500 1st lien position fix and flip loan for a single-family home in Huntington, Long Island, NY. We funded 100% of the $105,000 renovation budget and 60% of the $462,000 purchase price, while the Borrower contributed 40% cash to the purchase at closing. The after-repair value was estimated at $800,000 so our loan-to-after-repair value was 56.4% The subject property was appraised for $575,000 as-is so this new Borrower, with no experience, got a huge discount on the purchase. They had excellent credit with a mid score of 803 and bank statements that reflected sufficient liquidity to meet the reserves required for this loan. The Borrower had stated that they have a licensed contractor that will manage and oversee the project. They plan to sell the property upon completion of the light rehab. The interest rate was 11.47% and we charged a 1% origination point. The loan term was set at 12 months. This SFR fix and flip loan was funded in January 2024.Â
Fix & Flip Loan for Single-Family Residence in Bethpage, New York
$735,000
Bayport Funding, a balance sheet lender based in Long Island, funded a $735,000 1st lien position fix and flip loan for a single-family home in Bethpage, Nassau County, NY. We funded 85% of the $328,000 renovation budget and 85% of the $535,000 purchase price, while the Borrower contributed 15% cash respectively at closing. The after-repair value was estimated at $1,050,000 so our loan-to-after-repair value was 70%. The Borrower had good credit. They plan to list the home for sale upon completion of the light rehab. The interest rate was 11.50% and we charged 1.5% origination points. The loan term was set at 12 months. This SFR fix and flip loan was funded in January 2024.Â
Fix & Flip Loan for Single-Family Residence in Levittown, New York
$695,000
Bayport Funding, a balance sheet lender based in Long Island, funded a $695,000 1st lien position fix and flip loan for a single-family home in Levittown, NY. The purchase price was $465,000. We funded 85% of the purchase and 100% of the $300,000 renovation budget. The Borrower contributed 15% cash to the purchase at closing. The after-repair-value was $980,000 so our loan-to-after-repair-value was 71%. The Borrower plans to sell the property upon completion of the rehab. Levittown is located on Long Island. It is a hamlet in the town of Hempstead in Nassau County. It is located halfway between the villages of Hempstead and Farmingdale.The interest rate was 11.75% and we charged 1.75% origination points. The loan term was 12 months. This SFR fix and flip loan was funded in November 2023.
Fix and Flip Loan for SFR in Katonah, Westchester County, New York
$2,083,500
Lima One Capital, a lender for residential real estate investors, funded a $2,083,500 1st lien position fix and flip loan for a single-family home in Katonah, NY. We funded 100% of the $1,015,000 renovation budget and 85% of the $1,300,000 purchase price, while the Borrower contributed 15% cash to the purchase at closing. The after-repair value was estimated at $3,550,000 so our loan-to-value was 59%. New York can be a tricky state for lenders, but the team at Lima One used its expertise to close this deal efficiently. The in-house operations, underwriting, post-closing, and legal teams helped to complete this deal to purchase a suburban Westchester County property. The investor plans to repair and update the home, which was built in 1880. A new bathroom will be added along with a new HVAC system. This classic residence will then hit the market for sale, ready to delight new homeowners. The subject property was approximately 6,500 square feet. The loan term was set at 13 months. This SFR fix and flip loan was funded in October 2023.