New York at a glance for borrowers
- New York taxes wage income, which matters when tax returns are used to qualify; bank statement and DSCR loans sidestep that.
- New York charges a mortgage recording tax that varies by county and is one of the highest closing costs in the country, which changes refinance math. Many purchase loans in NYC are co-ops, which most DSCR programs do not finance.
- Major markets we see: New York City, Buffalo, Rochester, Syracuse, Albany, Yonkers, New York, New Rochelle, Mount Vernon, Schenectady, Utica, Brentwood, White Plains, Hempstead, Levittown, Troy.
Investor loans in New York
DSCR Loans in New York
A DSCR loan is an investment-property mortgage that qualifies you on the property’s rental income divided by its monthly payment (the debt service coverage ratio).
InvestorDSCR Cash-Out Refinance in New York
A DSCR cash-out refinance replaces the loan on a rental with a larger one, sized to the property’s value and qualified on its rent, and pays you the difference in cash.
InvestorFix and Flip Loans in New York
A fix and flip loan is short-term (usually 12–18 months), interest-only financing that covers most of a distressed property’s purchase price and up to 100% of renovation costs, repaid when you sell or refinance.
InvestorShort-Term Rental (Airbnb) DSCR Loans in New York
A short-term rental DSCR loan qualifies a vacation rental on its nightly-rental income, using 12 months of booking history or a third-party projection such as AirDNA, instead of a long-term lease.
InvestorBridge Loans in New York
A bridge loan is short-term (usually 6–24 months) investor financing secured by real estate that “bridges” you from a purchase to a sale or long-term refinance.
InvestorHard Money Loans in New York
A hard money loan is a short-term investment-property loan from a private lender that approves mainly on the property’s value and the deal, not your income or credit history.
InvestorGround-Up Construction Loans in New York
An investor construction loan funds land (or a land payoff) and vertical construction of a new 1–4 unit home in draws, then is repaid by sale or a permanent refinance.
InvestorForeign National Loans in New York
A foreign national loan lets a non-US citizen who does not live in the US finance a US investment property or second home without a US credit history or Social Security number.
InvestorMultifamily Loans (5+ Units) in New York
A multifamily loan finances apartment buildings with five or more units and is underwritten as a commercial loan on the property’s net operating income (NOI).
Investor1031 Exchange Loans in New York
A 1031 exchange loan finances the replacement property in a like-kind exchange, where investors defer capital gains tax by reinvesting sale proceeds into another investment property.
Home loans in New York
Bank Statement Loans in New York
A bank statement loan is a non-QM mortgage that calculates self-employed income from 12 or 24 months of personal or business bank deposits instead of tax returns.
Home loanFHA Loans in New York
An FHA loan is a government-insured mortgage that allows 3.5% down with a credit score of 580 or higher, or 10% down with a score from 500 to 579.
Home loanVA Loans in New York
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs that lets eligible veterans, active-duty service members and certain surviving spouses buy with no down payment and no monthly mortgage insurance.
Home loanConventional Loans in New York
A conventional loan is a mortgage not insured by the government that follows Fannie Mae or Freddie Mac guidelines.
Home loanFirst-Time Homebuyer Loans in New York
First-time homebuyer loans are mortgage options with low down payments, typically 3% conventional, 3.5% FHA or $0 VA, often paired with state or local down payment assistance.
Home loanCash-Out Refinance in New York
A cash-out refinance replaces your current mortgage with a larger one and pays you the difference in cash, commonly up to 80% of your home’s value on a primary residence.
Home loanJumbo Loans in New York
A jumbo loan is a mortgage larger than the FHFA conforming loan limit for your county, used for higher-priced homes.
Home loanUSDA Loans in New York
A USDA loan is a mortgage guaranteed by the U.S.
Home loanFHA 203(k) Renovation Loans in New York
An FHA 203(k) loan finances both the purchase (or refinance) of a home and the cost of repairing it in a single FHA-insured mortgage, with as little as 3.5% down.
Home loanCondo Loans in New York
A condo loan is a mortgage on a unit in a condominium project, and approval depends on the building as well as the buyer.
Home loanSecond Home Loans in New York
A second home loan finances a vacation or part-time residence you occupy for some of the year, often with as little as 10% down on a conventional loan.
Cities
- New York City, NY
- Buffalo, NY
- Rochester, NY
- Syracuse, NY
- Albany, NY
- Yonkers, NY
- New York, NY
- New Rochelle, NY
- Mount Vernon, NY
- Schenectady, NY
- Utica, NY
- Brentwood, NY
- White Plains, NY
- Hempstead, NY
- Levittown, NY
- Troy, NY
Costs & taxes in New York
FAQ
Do you offer mortgages in New York?
Yes. We arrange both investor loans and owner-occupied home loans for New York properties. Our licensed states are growing, submit your scenario and we will confirm the licensed loan officer for your state.
Can out-of-state investors buy rentals in New York?
Yes. DSCR and fix and flip loans are based on the property, so you do not need to live in New York.