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New York City

Hard Money Lenders, Long Island, New York

 

Want to invest in real estate, but not sure which hard money lender in Long Island, NY to partner with? The right financier will be able to give you various hard money loans options and help you to lock in your next property deal in no time!

Long Island is a densely populated island in New York that runs near New York City. It houses several prominent cities and areas, including the Hamptons and Montauk Point State Park. Residents of Long Island may be looking for flexible lending programs that fit their unique or complex needs.

What Is Hard Money Lending Long Island, NY?

 

Gauntlet Funding focuses on hard money lending. A hard money loan is secured by a property, so they’re primarily used for real estate transactions. Individuals can qualify for hard money loans, as they’re not designed for banks or other financial professionals. Some of the benefits of utilizing a hard money loan for a real estate investment opportunity include:

  • Quicker funding.
  • Open to negotiation.
  • Lower reliance on the financial position of the loan applicant.
  • Shorter repayment term.

Upon approval, a hard money loan often funds faster than a traditional mortgage or private loan. The lender and borrower may be able to negotiate the terms of a hard money loan, particularly since the property purchased serves as collateral with less emphasis on the borrower’s financial situation. In fact, a hard money lender focuses more on the value of the property when determining the terms of the loan. A hard money loan’s repayment terms rarely exceed 24 months, and most are paid off within eight to 12 months.

Notes About Hard Money Loans

 

It’s helpful to note that this loan type does come at a slightly higher risk to the lender, and that increased risk may reflect in the cost to the borrower. However, the advantages outweigh any minor cost increases, as the borrower will have faster access to the capital they need to purchase property and undergo a less stringent process for approval. The repayment schedule may also come with more flexible terms, making it a more appealing type of loan.

Who Can Qualify for a Hard Money Loan in Long Island?

 

As mentioned, a hard money loan is designed for use by an individual rather than a financial institution. A company may be able to qualify for this type of loan, as long as the funds are used to purchase a property that is used for collateral as part of the terms. Examples of individuals and companies that might choose to seek this type of funding include:

  • Property flippers.
  • Real estate investors.
  • Real estate developers.

Since a hard money loan doesn’t take the applicant’s financial situation into account as much as the value of the property, it is often easier to qualify for this type of loan when purchasing a property that won’t become the applicant’s main residence. The requirements for a hard money loan differ, but our financial professionals are happy to discuss options with you and provide more information as to what you might qualify for and how to get started.

real estate investment

Available Investment Programs and Opportunities

Gauntlet Funding is a leading provider of hard money loans and other financial solutions for those located on Long Island and in much of the surrounding area. In addition to hard money loans, we offer:

We’re an investment company with a multi-million-dollar backing, so we’re different than other lenders. Our company’s owners are the sole decision-makers on all properties that we approve to finance, purchase, or sell. We’re also open to becoming partners with real estate investors who need financial support in making purchases. Our company never uses any third parties, including brokers or other middlemen, when making business decisions or providing information to clients. When providing a hard money loan to a client, our goal is to make the process go as smoothly as possible.

Work With Gauntlet Funding for Hard Money Loans in Long Island, NY

We help people all over when it comes time to buy a new property. Our industry professionals are knowledgeable and experienced and specialize in distressed asset financing and direct private lending. As a multi-million dollar-backed investment company, we work directly with our clients rather than sending a 3rd party of middleman to help make decisions. We are personally invested in every hard money lending Long Island, NY  we offer and want to see all our clients succeed in their adventures.

Gauntlet Funding can get you access to cash much faster than if you went to a traditional bank or national institution. We also work with unconventional borrowers dealing with high-risk loans, and we are confident we can find a solution to all your needs. If you have questions about our financial solutions or would like additional information about how we can help you, don’t hesitate to contact us. By submitting our quick and easy pre-approval form, you can find out whether you might pre-qualify for a private loan.

    Request a Fast Easy Pre-Approval Today

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

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