New York No Points Hard Money Loans

TEANECK, N.J. - Nov. 12, 2019 - PRLog -- AccoLend is a nation-wide private lender that is very active in New York. We have been investing and lending in New York for quite a while now. Our particular strength and expertise are in the New York City boroughs, but we have acquired much valuable first-hand experience in many other counties, including Rockland, Orange, Erie and Albany. Our knowledge and expertise are available to our hard money borrower clients and we are happy to share what we learned of the real estate investment market.

Looking at the rest of the Tri-State area and comparing with the top pre-2007 prices, many areas are only slightly above, while many are still well below those levels.  Not so in New York City where the growth has been nothing short of spectacular. Brooklyn and Queens property prices are up almost 200%; some areas of Brooklyn, like Bushwick, Williamsburg, Downtown Brooklyn are up even more. Another area where we see a lot of demand is Rockland County. We have seen significant demand from commercial real estate investors for Hard Money lending products for transactions in all these areas, especially focusing on Ground-up Construction and Fix and Flip.

Our ability to speedily process hard money loans in New York is unique. We have an incredible infrastructure to process loans in 5-7 days in most (although not all) counties. We have done business with many appraisers and are in position to ask for expedited turn-around times for 1-4 family houses (commercial appraisals are a bit more complex). We developed a very good network of appraisers in NYC and on Long Island and can accommodate fast turnaround time. We know that speed is important in Fix and Flip business and we work hard to deliver quick a response and lending.

Generally, our bridge loans are twelve months long with minimum term of 6 months. Most importantly, we are the only hard money lender offering hard money loans without charging any points. Our lending is based on actual cost as opposed to After Repaired Value. Loan to value for Fix and Flip loans is between 75%-85% of purchase price and rehab cost. Loan to value for Ground-up construction is up to 75% of Hard Costs. Our terms are robust yet flexible and we do not typically charge for short term extensions.

When it comes to Fix and Flip loans in New York you need to make sure that your lender has local knowledge and all infrastructure to effectively respond to your needs. It is especially important when it comes to ground-up construction or complicated condo conversions. Call 201-643-6650 or visit https://www.accolend.com.