Where we finance

Hard Money Loans in New York

Apex Capital Advisors offers hard money and other business-purpose loans for New York investors, from brownstones and two-family houses in the outer boroughs to Buffalo doubles and Rochester single-family homes. Fix and flip loans reach 92.50% of total cost, and term sheets go out within 12-24 hours.

Discuss your deal All 36 states and Washington, D.C.

Fix & Flip
DSCR Rental
Bridge
New Construction

The lay of the land

Investing in New York

New York's markets split between downstate and upstate. Downstate, New York City, Long Island, Westchester and the lower Hudson Valley run on finance, health care, universities and the commute into Manhattan. Upstate, the old canal cities of Buffalo, Rochester and Syracuse lean on hospitals and universities, and Albany adds state government. Micron has broken ground on a memory chip plant in Clay, north of Syracuse, and the Army's Fort Drum anchors the Watertown area.

Much of the housing investors buy here is old. In the city that means brownstones, rowhouses, brick two-family houses and mixed-use buildings with a store below and apartments above. Upstate it means wood-frame single-family homes and two-family houses with a flat on each floor, often with old wiring, lead paint and tired boilers. Common plans are to renovate and rent small multifamily buildings, flip single-family homes, or run vacation rentals in the Catskills, Adirondacks and Finger Lakes where towns allow.

Loan programs

Loan Programs in New York

Four ways to finance an investment property in New York, each sized to the deal rather than a fixed product.

Short-term project capital

Fix and Flip Loans in New York

New York flips start with an old house: a Brooklyn or Queens rowhouse or two-family that needs new systems, or a wood-frame single-family home in Buffalo, Rochester or Syracuse. Price in the roof, the boiler and lead-safe work, and keep vacant houses heated in winter. On the resale, budget for the state transfer tax and, on a city sale, New York City's own.

Apex's hard money fix and flip loans cover up to 92.50% of total cost and up to 100% of the rehab budget, with a 650 minimum FICO and lower scores considered case by case. First-time investors are welcome.

Newbies are welcome
Up to 92.50% Loan to Cost (LTC)
Up to 100% of rehab budget

Fix and flip loan details

Long-term rental financing

DSCR Rental Loans in New York

A New York rental is worth the rent it can legally collect. Many older apartment buildings in New York City and Yonkers are rent stabilized, with yearly increases set by a Rent Guidelines Board. In the city and in opt-in cities such as Rochester and Albany, Good Cause Eviction lets covered tenants challenge large increases. Two- and three-family houses generally fall outside rent stabilization.

Apex qualifies DSCR loans on the property's cash flow, with no personal-income verification and ratios as low as 0.75x, for $100K to $3M+ on 30-year terms. Cash-out refinances go up to 80% LTV. Reaching the full 80% takes a stronger DSCR and credit score than the program minimums, so leverage on each file is set by its DSCR and credit.

Qualified on the property's cash flow, not your personal income
No traditional employment or personal-income verification
Cash-out refinance LTV up to 80%

DSCR rental loan details

Interim financing

Bridge Loans in New York

A bridge loan fits New York deals where timing matters: a Buffalo double with a vacant upper flat, a Queens mixed-use building with an empty storefront, or a Bronx walk-up that needs repairs before a bank will lend. Foreclosures here run through the courts and move slowly, so when a distressed property reaches a referee auction, a buyer who can close with certainty has the edge.

One route is to buy and lease up with hard money, then refinance into a DSCR loan. Apex sets bridge terms deal by deal and sends a term sheet within 12-24 hours.

Structured for transactions that cannot wait
Property in transition, lease-up or repositioning
Terms set deal by deal rather than to a fixed product

Bridge loan details

Ground-up construction

New Construction Loans in New York

In New York City, investor construction is mostly infill: replacing older houses on Staten Island and in eastern Queens, or building small multifamily on vacant lots in the Bronx and Brooklyn where zoning allows. Upstate, new single-family homes go up in the suburbs of Buffalo and Rochester and in Saratoga County, near GlobalFoundries' plant in Malta. Winter shortens the building season, so plan foundation work around it.

Apex funds up to 100% of the construction budget, released in draws against progress, with the lot included if needed. Approved plans are required before closing, and permits before the first draw.

Up to 100% of the construction budget
Land or lot cost and build budget assessed together
Capital released in stages against construction progress

New construction loan details

Program terms are general guidelines, not a quote or commitment. Every loan is subject to underwriting and approval and is for business purposes only.

Local markets

Where We Finance in New York

Apex offers loans statewide. These markets are a starting point, not a limit.

New York City

New York City is several markets in one. Bedford-Stuyvesant and Crown Heights in Brooklyn are known for brownstones and rowhouses. Ridgewood and Richmond Hill in Queens have brick and frame two-family houses. The Bronx mixes prewar walk-ups with two- and three-family homes in Wakefield and Williamsbridge, and Staten Island leans toward detached and semi-detached houses. Many older apartment buildings are rent stabilized, so check the registration history before you price one. Low-lying blocks in the Rockaways, Coney Island and Staten Island's East Shore flooded in Hurricane Sandy; check the flood map.

Buffalo

Buffalo's best-known investor property is the double, a two-family house with one flat over the other, found across the West Side, North Buffalo, Black Rock, Riverside and South Buffalo. Elmwood Village and Allentown hold larger Victorian homes. Demand is anchored by the Buffalo Niagara Medical Campus, home to Roswell Park and the University at Buffalo's medical school, and by M&T Bank's headquarters. Lake-effect snow off Lake Erie puts roofs, gutters and boilers first. A common plan is to renovate a double, lease both units and refinance with a DSCR loan.

Rochester

Rochester's economy centers on the University of Rochester and its medical center, with Rochester Institute of Technology in suburban Henrietta and Wegmans based in the area; Kodak, Xerox and Bausch + Lomb shaped the older city. Wood-frame single-family homes and two-family houses fill Maplewood, Beechwood, North Winton Village and Charlotte, on Lake Ontario, while Park Avenue and the South Wedge draw renters who want to walk to shops and restaurants. The city has opted into Good Cause Eviction, so build its rules into any rental plan, and budget for lake-effect snow.

Yonkers

Yonkers sits on the Hudson River just north of the Bronx, with Metro-North Hudson Line stations at Ludlow, Yonkers, Glenwood and Greystone. Downtown, around Getty Square, the Saw Mill River has been uncovered and newer apartment buildings stand near the waterfront. Nodine Hill, Ludlow and the southwest side have two- and three-family houses and older apartment buildings; Crestwood and Park Hill lean single-family. Yonkers has adopted rent stabilization under the Emergency Tenant Protection Act, which reaches older apartment buildings but not two- or three-family houses, and levies its own mortgage tax.

Before you buy

What Investors Should Know About New York

Foreclosure goes through the courts

New York forecloses through the courts. On a loan for a home the owner lives in, the lender must first send a pre-foreclosure notice, and the court holds a mandatory settlement conference. If the lender wins a judgment of foreclosure and sale, a referee auctions the property, and after the sale the former owner has no right of redemption. Cases move slowly.

Rent stabilization, in the city and beyond

Rent stabilization covers many older apartment buildings in New York City. Outside the city it applies under the Emergency Tenant Protection Act where adopted, including Yonkers and other Westchester communities, parts of Nassau and Rockland counties, and Kingston. Rent Guidelines Boards set yearly increases, tenants are entitled to renewal leases, and rent increases for improvements are strictly limited.

Good Cause Eviction

Good Cause Eviction applies in New York City and in municipalities that opt in, including Rochester, Albany, New Rochelle and White Plains. Covered tenants cannot be evicted just because the lease ended, and increases above a limit tied to inflation are presumed unreasonable. Exemptions include small landlords, as defined for each locality, smaller owner-occupied buildings, high-rent units, condos, co-ops and newer buildings.

Short-term rentals in New York City

New York City requires short-term rental hosts to register with the Mayor's Office of Special Enforcement, and booking platforms may not process stays at unregistered rentals. The host must be present during a short stay, and an entire apartment or house cannot be rented to visitors for a short stay, even by an owner who lives in the building.

Transfer and mortgage recording taxes

The seller normally pays the state real estate transfer tax, and the buyer pays an added mansion tax on higher-priced homes. New York City adds its own transfer tax. Recording a mortgage triggers the state mortgage recording tax, and New York City, Yonkers and various counties add their own, so plan for it on the hard money loan and on any refinance.

General information, not legal or tax advice. Laws and rates change; confirm the details with a licensed attorney or tax professional in New York.

Questions

New York Hard Money Loan FAQs

Not answered here? Call +1(551) 321-5995 or read the full FAQ.

Do you offer hard money loans in New York?

Yes. Apex offers business-purpose hard money and private financing across New York, from New York City, Long Island and Westchester to Albany, Syracuse, Rochester and Buffalo, for fix and flip, DSCR rental, bridge and new construction projects. Loans are for investment property only, not a home you will live in.

Can I finance a Buffalo double or a Brooklyn two-family?

Yes. Fix and flip loans cover small multifamily and mixed-use buildings as well as single-family homes, at up to 92.50% of total cost and up to 100% of the rehab budget. Once both units are leased, a DSCR loan can refinance the house on its rent.

How does rent stabilization affect a DSCR loan?

A DSCR loan is qualified on the property's cash flow, so what counts is the rent the building can legally charge. In a stabilized unit that is the registered legal rent, with yearly increases set by the Rent Guidelines Board. Send the rent roll and registration history.

Can I use a DSCR loan on a New York short-term rental?

Short-term rentals are eligible for Apex DSCR loans, but the rental has to be legal. New York City bars renting a whole apartment or house to visitors for a short stay, so plan city rentals around regular leases. In the Catskills, Adirondacks or Finger Lakes, check town rules first.

How fast can a New York deal close?

Apex issues a term sheet within 12-24 hours, and qualified deals with complete documents can fund in as fast as 15 days. Send the purchase contract, scope of work and budget, plus the leases and rent roll for a building with tenants in place.

Beyond the state line

Nearby States We Serve

Investing on both sides of the border? The same programs and the same team cover the states around New York.

All 36 states and Washington, D.C.

Next step

Financing a Property in New York?

Send us the property, the plan and the timeline. We will tell you what is realistic and what we need to issue a term sheet.

Discuss your deal +1(551) 321-5995