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New York City

About Gauntlet Funding in the Bronx

 


Have you always dreamed of owning one of the Bronx’s classic five-story walk-ups? Is your heart set on one of the borough’s beautiful single-family homes? Do you love the buzzing streets around local high-rise apartments? While location matters in the property game, your timing is also essential. At Gauntlet Funding, our hard money lending expertise helps our clients close property deals with competitive terms fast.

Find Out What Our Location Clients Have To Say About Our Hard Money Lenders in Bronx, NY

“Lou, Raffele and Chris are extremely professional and easy to work with. They will find the perfect solution for your situation. I highly recommend working with Gauntlet. We switched from another lender we had problems with and the team was able to assist right away! We will be doing many more deals in the future. Great guys.”

.- Mike Dee

 

 

Have been working with Lou and his team on different projects for almost 2 years now. Highly recommend him and his team!

.- Adam Gregory

Types of Hard Money Loans in the Bronx

At Gauntlet Funding, we take the time to get to know our clients and match them with the right hard money loan. The right loan for you may depend on your credit rating, the type of real estate you’re investing in, and other factors. The types of hard money loans we offer include:

  • Fix and flip loans: Short-term loans that are ideal for investors looking to fix and flip properties to make a profit. Lenders lend based on the property’s value after repairs, rather than the applicant’s credit score.
  • Joint venture loans: Loans for people pooling their resources to purchase a single property. The two parties save money and share the risk and profits from their purchase.
  • Bridge hard money loans: Short-term loan options that bridge the gap between buying and selling a property. As these loans give people money to purchase a new property before selling an existing one, they’re best suited to people with good credit scores.
  • Rental hard money loans: Flexible long-term loans based on stabilized properties. They give people access to emergency funds which they can use if renovations or repairs exceed their expectations.
  • New construction loans: Hard money loans designed to help people finance new construction projects.

Popular Neighborhoods in the Bronx

As with other gentrified neighborhoods, the Bronx is enjoying revived market interest in the 21st century. New York’s second-smallest borough by area has seen marked rent increases in recent years. In March 2022, according to real estate giant MNS, average monthly rents in the Bronx sat at:

  • Average: $2,174.69 (8.44% greater than March 2021).
  • Studio: $1,850.69 (10.82% greater than March 2021).
  • One-bedroom unit: $2.071.32 (7.44% greater than March 2021).
  • Two-bedroom unit: $2,602.07 (7.6% greater than March 2021).

MNS notes recent price increases in the following neighborhoods:

real estate investment

Mott Haven

All eyes are on this southern Bronx neighborhood thanks to the recent addition of Bankside, a 4.3-acre mixed-use multi-tower development along the waterfront. This development brings housing, art spaces, retail stores, restaurants, and a new public park and esplanade to the area.

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Concourse/Highbridge

These neighboring communities in the Bronx’s southwest are home to Yankee Stadium, the Bronx Museum of Arts, and Joyce Kilmer and Franz Sigel Parks. Whether you love the historic feel of the sophisticated Tudor and art deco-inspired apartment complexes or more contemporary apartments of the 425 Grand Concourse project, you’re spoiled for choice here.

Holding a Key

Morris Heights/University Heights

These friendly neighboring communities in the West Bronx boast affordable properties with a decent amount of space. Modern additions like the waterfront River Bank Towers show the interest developers are taking in this area.

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Riverdale

A community with a suburban feel in the Bronx’s northwest, it features generous single-family homes on large plots of land and many co-ops. Several leafy parks and the Garden Gourmet Market make it feel miles away from the city center.

Financing Options in the Bronx Neighborhoods

 

After talks with real estate experts, Brick Underground also named the following neighborhoods as some of the Bronx’s best places to live:

  • Kingsbridge: Just south of Riverdale, Kingsbridge is a beautiful neighborhood popular with people priced out of Manhattan. New residents in their 20s and 30s love the area’s midrise apartments, single-family homes, and two- and three-bedroom family dwellings.
  • Pelham Bay: This culturally diverse neighborhood on the Bronx’s northeastern border is named after New York’s largest public park. The 2,772-acre green space is a key draw, along with its charming brick homes and modern multifamily developments.
  • Fordham: This college town is conveniently close to key attractions, including the Bronx Zoo, the New York Botanical Garden, and Little Italy. Large apartments and homes in this western Bronx community are incredibly affordable and close to subway stations and stores.
  • Allerton: This quiet residential neighborhood in East Bronx features brick row houses, multi family homes, and a smattering of single-family dwellings with generous backyards. Now known as Allerton, after its founder Isaac Allerton, some parts still appear on maps with the old names of Laconia and Bronxdale.
  • Melrose: The beating heart of the Bronx, Melrose is a vibrant area with superb shopping, restaurants, and an appealing village appeal. A lack of vacant lots limits future development, making the properties available here even more appealing.

Financing Options in the Bronx Neighborhoods

No matter what your property aspirations are in the Bronx, Gauntlet Funding can help you make them happen. We designed our hard loans with fewer restrictions and red tape than traditional bank loans to help people secure the funding they need fast. That means that you spend less time waiting and more time fulfilling your property dreams.

Safe and affordable neighborhoods like Kingsbridge and Riverdale are perfect for investors with DIY skills. You can easily pick up a bargain property in these communities and convert it into a desirable family home. A fix and flip loan can give you the funds you need to make the improvements that will maximize your profits.

If you want to spend a little more, consider Morris Park, near Morris Heights. It’s also a very safe neighborhood, with 40% less crime than other Bronx communities. However, as it mostly has single- and double-family homes, its properties tend to be more expensive than in other parts of the borough. If you can’t scrape up the deposit yourself, consider teaming up with another person or household you trust. A joint venture loan can help you embark on an exciting property journey in this desirable neighborhood.

If your credit score is good but you need the capital from one property to buy the next, our bridge hard money loans are the answer. These loans bridge the gap between selling your existing property and buying something new. That makes them perfect for property investors with growing portfolios and families looking for their dream homes in friendly places like Pelham Bay or Allerton.

There are bargains to be had in Fordham, if you’re willing to put in the work. A rental hard money loan will make it easier to convert a cheap building into a modern home for you or renters. If you come across unexpected issues in the property, the emergency funds these loans provide can help you get it up to code.

New construction dominates Bronx communities like Mott Haven, Concourse, and Highbridge. A new construction loan can help you finance a brand-new property in one of these neighborhoods or another up-and-coming Bronx hotspot. If you favor modern amenities, these loans can help you get them.

Why Use Gauntlet Funding in the Bronx?

Unlike banks and other lenders, we pride ourselves on flexible procedures and quick resolutions. We’re also proud New Yorkers, so you can trust us to deliver expert advice on the properties that interest you. Whether you’re looking for your forever home, a long-term investment property, or a place to fix and flip, our insight can help you make the right decision. Our hard money lending experience also speaks for itself. With more than 20 years in the finance industry, you can trust us to do right by you.

Visit Gauntlet Funding Today

There’s no better time to turn your property dreams into a reality. Call Gauntlet Funding at 917-982-2688 or complete our online form to pre-qualify for one of our hard money loans. The sooner you get in touch, the sooner you get the keys to prime Bronx real estate.

FAQ Section

How Quickly Can You Close?

At Gauntlet, we pride ourselves on closing deals much faster than traditional lenders. We grant preliminary approval within one business day. Closing periods vary depending on who you are and what loan you’re interested in, but you may get your funds in as little as 48 hours. Our fix and flip loans, which are very popular in the Bronx, typically close within two weeks.

Are Your Rates Competitive?

At Gauntlet Funding, we care about our clients, so we make sure we secure them one of the best interest rates possible. Interest rates for hard money loans vary depending on your financial circumstances but may be as low as 5%. That makes them incredibly competitive compared to other lenders.

Do I Need Good Credit to Secure a Hard Money Loan?

Hard money loans can be a great option for people with poor credit, as they’re often based on your current or future assets rather than your FICO score. However, some hard money loans, such as bridge hard money loans, are better suited for people with good credit than others. Our experienced lenders take time to get to know our clients in the Bronx and match them with the right loan for their needs and financial history.

    Request a Fast Easy Pre-Approval Today

    Need more information? Give us a call at (917) 397-3851.

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