Hard Money Lender New York City

With all the hard money lenders in NYC why should you choose Neal Business Funding?  We know in the NYC Real Estate scene things move fast and you need access to funding to make deals happen.  At Neal, our goal is to get you the money you need quickly and without hassle.  

Our application process is easy and with our Pre-Approval Form we will tell you quickly if your deal is one we can do or not.

For the investor who is interested in rehabbing and selling a property, our Fix and Flip Loan is what you want.  We will lend up to 90% on the purchase of the property and up to 100% of the repairs, allowing you to get the big deals done with a smaller investment of your own capital.  

90% Financing on Purchase & 100% Rehab Costs Available

Up To 75% After Repair Value 

Typical Terms: 13 Months

Minimum Credit Score 600

We can close in 10-14 days

NYC Bridge Loans are perfect for the investor looking to purchase or refinance for resale or bridge to long term financing.  These short term loans work out great when you need temporary financing!

LTV: 80% Max

Experience: 5+ completed flips in the last 36 months

Typical Terms: 13 months

A construction loan for investors who own an investment property or an empty lot free-and-clear and needs capital for construction.  This is only for Non-Owner Occupied investment properties.

Loan to ARV: 70%

Typical Terms: 13 months

Our Rental Property Loan programs provide investors of all experience levels the ability to purchase, refinance, or cash-out individual rental properties, as well as entire portfolios. Our rates are competitive and the process will be smooth!

Rental Property Loan  Program Overview

Term Length: 30 Year, Fully Amortized
Interest Rate (ARM): 5.25% – 7.900%
Property Types: SFR 1-4/PUDs/Condos
Single Property & Portfolios
Minimum Loan Amount: $50,000
Maximum Loan Amount: $50,000,000
Maximum LTV: 75%
Minimum Credit Score: 620
Debt-to-Income for Borrower: None

Neal Business Funding provides serious investors with the capital they need to quickly make an offer, secure a distressed property and close quickly.  We know speed is a critical component to a real estate deal and this is why we are the premier hard money lender in New York City. Our focus is to provide financing solutions that you can not find at any local bank.

Who do we loan to?

We know with the amount of money it takes to invest in real estate, this is a serious investment for everyone.  That said, we will lend to qualified first time flippers or experienced professional investors. With more experience you will qualify for a better rate but even our rates for new flippers are very competitive.

Why Choose A Hard Money Loan?

Whether it’s a hard money loan or a conventional loan, the task begins by understanding what each one has to offer.  Here’s a detailed look at what makes the hard money lenders a wonderful solution for those wanting funds as soon as possible.

A hard money loan refers to an agreement where the funds are offered on the basis of your asset (i.e. property). With Hard Money loans the lender puts more emphasis on the value of the asset (real estate) than on your credit.  Your typical big bank will be the opposite of this and will want you to have perfect credit and cash flow to be approved for any loan. So Hard Money loans are often used as a way to gain access to funds faster without having to wait through multiple credit checks and layers of paperwork. 

1) Faster Approvals

It starts with faster approvals as most applicants want things to move along at a quicker pace. There is nothing worse than needing funds as soon as you can get your hands on them and then having to deal with multiple issues due to the conventional loan process. Since the hard money loan is all about your asset, it is a lot faster.  Neal Business Funding can get you pre-approvals in as fast as 24 hours and can close as quickly as 10-14 days.

The asset is evaluated and valued before the loan is pushed through making the underwriting process faster. This is a lot easier than having to go through a local bank, which can be time-consuming.

2) Larger Amounts

The amount you are going to gain from a hard money loan tends to be higher. It is all dependent upon the asset you are putting up, which can be substantial if it is something similar to a property. The loan tends to go through faster and you are able to get the amount necessary to allow you to stay financially stable.  We can fund hard money loans from $50K to $10M.

3) Lower Rates with experience

It’s always important to look at the interest rate when looking at hard money lenders.  In this case, you are going to get a far better interest rate on the loan because of your asset. Since the lender is taking on less risk, they are more likely and willing to go with a lower interest rate. They know the asset is there as a fallback if things go pear-shaped.  Your experience rehabbing properties will also play a factor in the rate you will receive. Hard Money Rates at Neal Business Funding range from 7.99% to 11.5%.

4) Simpler

In most cases, it’s a lot simpler to go with a hard money loan. There are fewer checks and the process tends to move along at the speed you want it to. A conventional loan is usually for much longer timeframes which involve more risk for the lender and this can put pressure on them to look for potential issues in the applicant’s case. With the hard money loan, everything is built on the shoulders of your asset, which keeps things simple since the asset is used as collateral.

A hard money loan is one of the best available options for those wanting to gain access to funds promptly. It’s efficient, proven, and is ideal when you need funding fast.  Call Neal Business Funding now or fill out our PRE-APPROVAL FORM