The Right Funding for Your Projects - A New York Hard Money Lender for Residential and Multifamily Needs
Hard Money Loans are a great option for real estate investors, as these asset-based loans are based on the Loan to Value (LTV) of an Asset. With few limitations and restrictions, this type of financing presents a straightforward way to quickly obtain capital without fretting over bankruptcies, foreclosures, collections etc.
A New York residential and multi-family hard money loan can be used to finance construction, remodeling, and acquisitions of these types of properties. Multifamily properties such as duplexes, triplexes, fourplexes, and large apartment complexes allow investors to generate higher returns as you can rent out separate living spaces. However, due to the higher cost and other expenses associated with larger properties, it can also be harder to qualify for traditional financing. That’s why working with a private money lender such as Stone Commercial Capital is a great option for these investments.
Benefits of Using a Hard Money Loan for a Multi-Family Investment Property
Fast Closings
Hard money loans can close in a fraction of the time it takes to secure other types of financing. For instance, while bank and agency loans require at least 60-90 days until closure, hard money usually closes within weeks! Furthermore, HUD multifamily loan approvals often take 6-12 months or more to process – making hard money an extremely attractive alternative for those seeking quick capital.
Interest-Only Options
A private money lender may offer an interest-only (I/O) loan for rehab or deep value-add deals. This type of balloon loan requires the borrower to pay all interest and fees in one lump sum once they have refinanced or sold the subject property. In many circumstances, this can be a beneficial option when it comes to financing investments.
Available for Distressed Properties
Even though traditional lenders such as banks, CMBS, and agencies may be reluctant to provide funding for rehabilitating an apartment building or commercial property, we would happily partner with you.
Unlock Your Real Estate Potential with a New York Residential and Multi-family Hard Money Loan
When it comes to residential and multi-family investments, hard money loans can be the key to unlocking potential. If you need capital for a project or want to fund a property acquisition, work with Stone Commercial Capital, LLC. We are dedicated to providing our clients with the best services and residential and multi-family hard money loan options available in New York. Fast access to capital can be the difference between acquiring that perfect piece to your portfolio and missing out on a lucrative deal. Contact us today to learn more about how we can help you secure the financing needed for your next real estate investment or project.
