Purchase + Rehab. One Loan.
A fix and flip loan in New York funds purchase and renovation in one short-term, asset-based loan — hard money, underwritten on the deal and the after-repair value rather than your income. The New York specifics: Two-family rehabs in Ridgewood, Jamaica and East New York are the active segment. Leverage, rehab caps and experience rules vary more between lenders than any other criterion, which is why LendingStreet places the file across thirty capital sources instead of one.
Check My New York Purchase & Rehab Options →The stock is two- to four-family attached and semi-detached houses across Queens and Brooklyn, walk-up multifamily, and condo units. Two-family rehabs in Ridgewood, Jamaica and East New York are the active segment. Department of Buildings permitting timelines and certificate-of-occupancy issues are the schedule risk.
New York is judicial with one of the longest foreclosure timelines in the country, and rent stabilization covers a large share of multifamily stock — a stabilized unit is underwritten on the legal regulated rent, not market. Two- to four-family houses in Queens are typically not stabilized and are the most common DSCR product. New York City transfer and mortgage recording taxes are high enough to materially affect cash to close on both acquisition and refinance.
If the property is occupied, New York's tenant rules govern how and when you can take possession to start work. Build the timeline around the law, not the contract date.
Standard ranges across our capital sources: $150,000 to $5M+, up to 95% of total project cost, up to 100% of the rehab budget in draws, 6 to 18 months interest-only, 5 to 10 business days to close with 5-day expedited for experienced investors. Full detail and the current rate floor are on the fix and flip loan page. First-time flippers generally see lower leverage.
The New York City metro — New York plus Astoria, Jackson Heights, Flushing, Jamaica, Ridgewood and Long Island City — and the rest of New York via the New York fix and flip page. The active rehab corridors in New York include Astoria, Jackson Heights, Ridgewood, Bushwick (Brooklyn), East New York (Brooklyn).
Size the loan and the cash to close in the ARV calculator, add the carry in the carrying costs calculator, and build the budget in the rehab cost estimator.
Also see: Stamford, CT →New Haven, CT →
The gap between the loan and total project cost, plus points, third-party costs and the rehab you carry between draws. The ARV calculator returns it for your numbers.
Yes, through sources that write them — lower leverage, licensed GC attached.
When New York's tenant rules allow possession, not when the contract closes. Build the carry into the timeline.
5 to 10 business days on a complete file; 5-day expedited for experienced investors. A BPO in lieu of appraisal is available on bridge structures.
Yes — fix-to-rent. Separate underwrite on rent and appraised value. Run it before you buy.
No credit pull. No commitment. Speak with a licensed financing firm with direct access to 30+ capital sources.
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By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.