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New York City

About Gauntlet Funding in Staten Island

 


Gauntlet Funding is a private funding group based out of New York. We serve clients throughout the state, including in Staten Island, a borough of New York City. Our financial experts specialize in direct private lending and distressed asset financing. Staten Island sits in the southwest portion of the city and includes over 58 square miles of land. Despite its large size, the borough is the least populated of the five main ones in New York City.

Find Out What Our Location Clients Have To Say About Our Hard Money Lenders in Staten Island, 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 Staten Island

Hard money loans are secured by real property, and people also refer to them as short-term bridge loans. As one of the top-rated hard money lenders in Staten Island, Gauntlet Funding specializes in hard loans and offers options for a range of clients. The types of hard money loans we offer include:

  • Fix and flip loans.
  • Joint venture loans.
  • Bridge loans.
  • Rental loans.
  • New construction loans.

Popular Neighborhoods in Staten Island

Some of the more popular neighborhoods in Staten Island include:

  • Huguenot.
  • Great Kills.
  • New Dorp.
  • St. George.
  • West New Brighton.
  • Todt Hill.
  • Livingston.
  • New Springville.
  • Oakwood Beach.

Because Staten Island is a fairly densely populated area, newer homes and empty lots may be more difficult to find. However, new construction single-family homes and multi-family units may be available in some of the less established neighborhoods or in areas that are undergoing gentrification efforts. Some construction companies in the area also specialize in residential demolition and rebuilding.

Financing Options in Staten Island Neighborhoods

Investing in real estate in Staten Island is easier with Gauntlet Funding by your side. We offer a range of financing options to real estate investors, such as:

 

Hard Money Loans

A hard money loan is generally easier to qualify for and faster to get than a traditional property loan, making it an appealing option to a real estate investor who needs to act quickly. Gauntlet Funding offers several types of hard money loans to clients in the Oakwood Beach neighborhood and throughout Staten Island.

 

Bridge Loans

A bridge loan is a financing option for a buyer who owns a property in Staten Island and wants to purchase another before selling the property they already own. Also known as a gap loan, interim financing, or a swing loan, a bridge loan is a short-term loan that can secure financing right away with immediate cash. The name of this loan type refers to the temporary ability to bridge the gap between buying a property without having to sell the current property.

 

Fix and Flip Loans

Fix and flip loans are based on real estate projects that involve renovations and can be sold for higher values. A real estate investor might use a fix and flip loan to buy a home in the Great Kills neighborhood that is distressed, such as through a short sale or out of foreclosure, and use the funds for repairs. After using the borrowed funds to renovate the home and prepare it for a new owner, the investor can then sell it at a higher price than they purchased it for, earning a profit that they can use to repay the loan.

Fix and flip loans are among the most popular types of hard money loans. They are flexible and can meet the individual needs of an investor, and some can close within two weeks, lessening the time between applying for the loan and receiving the funds.

 

New Construction Loans

A new construction loan covers the costs associated with the construction process, including the cost to purchase a lot or land, build the structure, get a permit, and fund the materials. This type of loan can benefit a real estate investor or property owner who plans to have a new building constructed on their land. Borrowers can consider several construction loan sub-types, such as construction-to-permanent, end loans, construction-only loans, renovation, and owner-builder construction loans. Some of the newer neighborhoods in Staten Island, such as New Springville, might have properties that qualify for this loan type.

 

Joint Venture Loans

A joint venture loan is a commercial enterprise that allows two or more parties to pool their resources and accomplish a goal. A joint venture loan differs from other types of business loans because it has a defined endpoint. All involved parties maintain responsibility for their own debt, and all profits earned at the endpoint are split between them based on their original joint venture agreement.

 

Rental Loans

Rental loans are long-term asset-based loans based on stable properties. Rental loans may also be called renovate-to-rent, rehab-to-rent, or fix-to-rent loans. A real estate investor can use a rental loan to purchase a residential property and renovate it in preparation to rent it out to a tenant. This loan type can benefit beginning and experienced real estate investors. Buying a property in Todt Hill and renting it to a tenant could be a viable investment decision.

Why Use Gauntlet Funding in Staten Island?

As leading hard money lenders in Staten Island, New York, Gauntlet Funding is the company to trust when you need a hard money loan. With years of experience, we can finance short sales, construction projects, real estate-owned properties, and other real estate ventures, getting you the money you need quickly.

Visit Gauntlet Funding Today

If you have questions about the hard money loans we offer or would like to apply, contact us today. We serve clients in Staten Island and across the state of New York.

FAQ Section

What Staten Island Neighborhoods Might Have Properties That Qualify for Fix and Flip Loans?

Any neighborhood in Staten Island could have a property that would qualify for a fix-and-flip hard money loan. This type of loan applies to a property that needs to be renovated and then can be sold at a profit.

Is the Staten Island Real Estate Market on the Rise?

Staten Island is currently one of the more affordable boroughs in New York City with a median home price of $600,000 in February 2022. According to Redfin data, the average sale price has increased by 16.1% in the last year, indicating significant growth.

Who Can Qualify for a Hard Money Loan?

To qualify for a hard money loan, an individual needs to demonstrate their ability to make the payments back to the lender and have the necessary collateral to put down. In some cases, the property being purchased serves as collateral, requiring a smaller down payment.

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

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