New York hard money is asset-based bridge capital: decisions hinge on the deal and the exit, not on W-2 income. From Albany to Buffalo to Rochester, it funds the deals that need to close before a bank could even order an appraisal.
What New York investors use hard money for
- Estate and probate acquisitions in Albany that need certainty of funds
- Bridge between purchase and permanent financing or sale
- BRRRR starts — acquire and rehab, then exit to New York DSCR
- Auction and trustee-sale buys — close on the courthouse timeline, not a 45-day bank clock
Why speed matters here: New York foreclosure is judicial — judicial foreclosure is very slow (often 2–3 years) — favor the upstate BRRRR lane. Cash-like certainty wins these deals against slower conventional offers.
New York hard money terms (2026)
| Term | New York range |
|---|---|
| Leverage | Up to ~90% of purchase + rehab, capped to ARV |
| Rate | Interest-only, ~10%–13% + points |
| Term | 6–18 months |
| Close | As fast as 7–14 days |
| Basis | Asset-based; $145,000 – $325,000 typical ARV |
New York metros we fund
| Metro | Typical basis | Rent band | On-the-ground notes |
|---|---|---|---|
| Albany | $220K–$340K | $1,500–$2,000 | state-government employment stability |
| Buffalo | $160K–$280K | $1,250–$1,750 | double/two-family value-add with an upstate comp package |
| Rochester | $150K–$260K | $1,200–$1,650 | lowest basis; strong cash-flow yields |
New York levies state income tax (~4%–10.9%); structure the hold or flip exit with that in mind.
Buffalo two-family value-add example
- Acquire duplex on West Side: $185K
- Rehab $48K — knob-and-tube, kitchens, baths
- Stabilize at $1,350/door × 2
- Refi New York DSCR at 70% LTV on $265K appraised
- Hold — judicial foreclosure state favors long carry; model 12+ month BRRRR timelines
Upstate NY hard money wins on basis, not speed-of-appreciation plays.
Worked example: Rochester single-family BRRRR
| Line | Rochester 3-bed |
|---|---|
| Purchase (estate sale) | $142,000 |
| Hard money (90% LTC) | $127,800 |
| Rehab (mechanical + cosmetic) | $36,000 |
| Carry (14 mo — judicial timeline) | $19,600 |
| Stabilized rent | $1,425/mo |
| Appraised ARV | $218,000 |
| DSCR refi at 70% LTV | $152,600 — recycle into second Rochester door |
Rochester offers the lowest basis in the state portfolio — $150K–$260K ARV bands with rents $1,200–$1,650. Model 12+ month carry because judicial foreclosure timelines favor patient BRRRR sponsors over quick REO flips.
Albany sponsors follow the same pattern at higher basis ($220K–$340K) with state-government employment anchoring rent demand — judicial foreclosure still runs 2–3 years, so define your DSCR refi lane before you fund.
Diligence before you fund in New York
New York carries specific physical-risk lines you must price before close:
- Coastal/urban flood downstate
- Aged multi-family stock with lead and oil tanks upstate
What we need to issue a New York term sheet
- Comps or a desktop valuation toward ARV
- Entity documents (LLC operating agreement, EIN) for vesting
- Purchase contract or auction confirmation
- Proof of funds for down payment and reserves
- A credible exit — resale comps or projected rent
Bring those and a New York file can move to term sheet quickly — the asset and the exit do the talking.
Recent New York deal
Buffalo double rehab funded at 85% LTC with upstate comp package. Asset and exit drove the approval — not a personal income file.
Define the exit before you borrow
Hard money is a bridge, not a destination. In New York that means one of two exits:
- Resale — finish and sell via fix and flip loans New York economics
- Refinance — stabilize and hold with a New York DSCR loan
NY DFS mortgage licensing; upstate investor lane differs from NYC rent-stabilization rules.
New York hard money FAQ
How fast can a New York hard money loan close?
With clear title and a workable scope, New York deals can fund in roughly 7–14 days — fast enough for Albany auction and estate deadlines.
What leverage do New York hard money lenders offer?
Commonly up to ~90% of purchase plus rehab, capped against ARV (often the $145,000 – $325,000 band in New York). Pricing reflects speed and asset risk, not your credit score alone.
What is the exit on a New York hard money loan?
Either resale via fix and flip, or refinance into a New York DSCR loan on stabilized rent. Define the exit before you fund.
Get Your New York Hard Money Quote · (833) 264-7776
Rates, terms and conditions offered only to qualified borrowers and are subject to change at any time without notice. All loans are subject to full underwriting. Jaken Finance Group only finances non-owner occupied investment properties.