New York Fix and Flip Loan

Last Updated: April 13, 2025

Welcome to OfferMarket’s Fix and Flip Loan Program, crafted with real estate investors in New York in mind. Whether you’re tackling a brownstone in Brooklyn, restoring a classic home in Buffalo, or exploring hidden gems upstate, our financing is here to fuel your success. We tailor our program to your specific goals so you can secure the funds needed for your next fix-and-flip project in the Empire State.

Why a Fix and Flip Loan in New York Is a Smart Investment

New York’s real estate market boasts a world-class blend of opportunity and variety. From high-value properties in Manhattan to the steadily growing suburban and upstate markets, you can find profitable deals that suit a range of budgets and strategies.

• Diverse Economy: New York hosts key industries such as finance, technology, healthcare, and tourism, creating strong demand for housing in and around the city and beyond.
• Market Resilience: Iconic neighborhoods in New York City typically command premium prices, while upstate areas and smaller cities like Rochester and Syracuse provide affordable entry points and steady appreciation.
• Year-Round Appeal: Thanks to its global profile and robust economy, New York consistently attracts buyers, ensuring a healthy resale market for well-renovated properties.

Wherever you choose to invest in the state, OfferMarket’s Fix and Flip Loan program is ready to supply the capital and flexibility you need to make the most of New York’s thriving real estate scene.

What You Get with OfferMarket’s Fix and Flip Loan in New York

Our loan program is built to empower both new and experienced investors working on everything from single-family homes to multi-unit projects. Below is an overview of the benefits you can expect:

1. Loan Amount Details

• Minimum Loan Amount: $25,000
  Perfect for smaller or quicker flips.

• Maximum Loan Amount: $2,000,000
  For larger projects. Loans over $1M require 3+ years of experience and strong comparable sales (comps).

• How It Works:
  Your loan size is determined by your purchase price, rehab budget, and After Repair Value (ARV), giving you sufficient capital to complete your project.

2. After Repair Value (ARV) Requirements

• Minimum ARV: $100,000
  Helps ensure profitable ventures.

• Maximum Loan-to-ARV (LTARV): Up to 75%
  Adjusted based on experience. Newer investors may qualify for 70% on lighter rehabs, while seasoned flippers can reach 75% on moderate rehabs.

• Valuation:
  We rely on formal appraisals (e.g., 1004 + 1007 for single-family homes) or in-house valuations to accurately gauge your ARV within New York’s varied markets.

3. Funding Breakdown

• Initial Advance:
  Up to 90% of the purchase price, subject to experience (80% for beginners, 90% for those with 5+ flips) and credit score.

• Construction Holdback:
  Up to 100% of rehab costs, released through app-based draws with a rapid 0-2 day turnaround.

• Down Payment:
  A minimum of $10,000 for properties priced under $100K.

• Draws:
  No set minimum or maximum. We finance 50% of materials delivered but not yet installed.

4. Interest Rates and Fees

• Interest Rate:
  Varies with market conditions—reach out to us for the latest figures.

• Origination Fee:
  1.5 to 2 points (minimum $2,000). For example, at 2 points on a $100,000 loan, the upfront fee is $2,000.

• Other Fees:
  Each draw costs $270, and wires are $30. You are responsible for appraisal costs.

• Interest Accrual:

  • Loans under $100K: Interest accrues on the full principal.

  • Loans above $100K: Interest accrues only on funds actually disbursed.

5. Loan Term

• Duration:
  Standard 12-month term, with 18-24 month options for specific circumstances.

• Extensions:
  Up to half of the original term (e.g., 6 months on a 12-month note). Fees include 1% for 3 months or 2.5% for 6 months.

6. Repayment Structure

• Payments:
  Interest-only, with a balloon payment at maturity—helping preserve cash flow for renovations.

• Prepayment Penalty:
  None. Feel free to pay your loan in full any time without added charges.

• Recourse:
  Full recourse, requiring guarantees from at least 51% of your LLC or Corporation for acquisitions (100% for refinances).

7. Exit Strategy Requirements

• Sale:
  We look for at least a 30% return on investment (ROI) and a minimum $15,000 profit upon sale.

• Refinance:
  Must meet a post-repair debt service coverage ratio (DSCR) of 1.1 if you plan to refinance.

• Flexibility:
  You can opt to flip or hold as a rental, letting you pivot based on conditions in the New York market.

8. Eligibility Criteria

• Experience:
  Not mandatory. Newcomers start at Tier 1 (80% advance), while veterans with a proven track record reach Tier 5 (90%).

• Credit Score:
  Minimum 680 (we can consider scores from 660-679 under certain conditions).

• Borrowing Entity:
  Must be an LLC or Corporation.

• Cash Reserves:
  You’ll need sufficient funds to close and at least 25% of your rehab budget in liquid reserves (bank, brokerage, or retirement accounts).

9. Project and Property Requirements

• Eligible Properties:
  1–4 unit residential. This includes single-family homes (≥700 sq ft), duplex/triplex/quadplex properties (≥500 sq ft per unit), condos (≥500 sq ft), townhomes, and PUDs.

• Maximum Acreage:
  Up to 5 acres—great for more spacious upstate or suburban flips.

• Rehab Scope:
  Light rehab (under 25% of purchase price) to extensive (above 100%). Beginners are limited to light or moderate rehabs.

• Location:
  We lend in New York, excluding AK, AZ, HI, MN, ND, NV, OR, SD, UT, VT. Rural areas within New York see a -20% advance adjustment and require 3+ years of experience.

10. Risk and Approval Process

• Underwriting:
  We evaluate ARV, your proposed rehab plan, local market conditions (e.g., Manhattan comps or Buffalo’s liquidity), and your experience.

• Valuation:
  Appraisal or in-house review, depending on the property and deal specifics.

• Approval Timeline:
  Draws typically fund within 0-2 days. Initial funding depends on how quickly you submit the required paperwork.

• Default Rate:
  Historically under 0.5%, reflecting our commitment to mutually beneficial investments.

11. Support and Flexibility

• Guidance:
  Access to our rehab calculators and scope-of-work insights tailored to New York’s market.

• Rehab Oversight:
  Self-serve draws put you in charge of renovation pacing.

• Advanced Draws:
  When merited, we advance funds to keep your project moving efficiently.

12. Transparency and Fine Print

• Sample Costs (for a $150,000 New York property):

  • Origination Fee (2 points): $2,000

  • Draw Fee: $270 per draw

  • Wire Fee: $30 per transfer

  • Rehab Costs: Up to 100% financed through holdback

• Hidden Costs:
  None. All draw, wire, and extension fees are disclosed upfront.

• Rural/Complex Terms:
  Rural New York projects have a -20% advance adjustment, and major rehabs can be capped at 70% LTARV or 85-90% Loan-to-Full-Cost (LTFC).

How You Can Profit from New York Real Estate

To illustrate our Fix and Flip Loan Program in action, here’s a sample deal in Albany, New York:

• Purchase Price: $200,000

• Rehab Budget: $60,000

• After Repair Value (ARV): $300,000

  If you qualify for a 75% loan-to-ARV, you could access $225,000 in financing. Here’s how it might look:

Once the rehab is done and the property is sold at $300,000, you repay the loan and keep your profit after covering rehab costs, fees, and other expenditures. With the right improvements and a strong final sale price, the return on investment can be significant.

Why Choose OfferMarket for Your Fix and Flip Loan in New York?

1. Competitive Financing

At OfferMarket, we understand that securing the right level of funding can make or break a fix-and-flip project in New York’s fast-paced real estate market. That’s why we offer up to 90% of the purchase price, ensuring you don’t have to deplete your personal reserves or scramble for multiple financing options. Our higher loan-to-purchase ratio grants you the freedom to invest in more ambitious or higher-value properties, laying a strong foundation for a profitable exit once your renovation is complete.

2. Flexible Repayment

Renovations can be unpredictable, and we want you to stay focused on turning that hidden gem into a lucrative deal. With our interest-only payment structure, you’re able to keep monthly outlays low, freeing up extra cash to manage labor costs, address unforeseen construction challenges, or acquire additional materials. Even better, we have absolutely no prepayment penalties—if you’re able to sell or refinance ahead of schedule, you can repay your loan early without incurring extra fees. This flexibility helps reduce stress and keeps you in control of your project’s timeline.

3. Speedy Process

Time is often your most valuable asset in real estate, especially in a competitive market like New York. That’s why we’ve streamlined our underwriting and draw process to move at lightning speed. Once your initial file is complete, we can issue approvals quickly, giving you the confidence to make firm offers and lock down properties before someone else does. Our self-serve, app-based draw requests are processed within 0–2 days, ensuring that you never have to slow down or pause work because of delayed funding. We believe that keeping your project on schedule is key to maximizing returns.

4. Expert Guidance

Navigating New York’s diverse neighborhoods—from Brooklyn brownstones to upstate farmhouses—requires more than just financing; it demands strategic insights and local knowledge. Our experienced team is well-versed in analyzing comps across boroughs and suburbs, anticipating shifting market conditions, and optimizing rehab plans for maximum impact. We’re here to help you think through design decisions that resonate with local buyers, position properties for competitive pricing, and develop a renovation scope that aligns with your budget and timeline. This hands-on support can be invaluable, especially if you’re branching into new areas or undertaking a more extensive flip.

5. Transparent Costs

Hidden fees can quickly eat away at your profits, so we uphold a strict commitment to honesty and clarity. From our origination fees to draw fees and wire charges, you’ll know every cost from the outset. This transparent approach empowers you to budget effectively, avoiding last-minute surprises that could disrupt your rehab schedule or compromise your profit margin. We believe that when you have a complete financial picture, you can plan more confidently and concentrate on executing your vision for the property.

6. Proven Success Record

We’re proud of the fact that fewer than 0.5% of our loans ever default—this statistic reflects our dedication to vetting projects thoroughly and supporting our borrowers throughout the process. Having a reliable partner in your corner can be especially reassuring in a highly competitive area like New York, where market dynamics can change rapidly and margins may be tight. Our investors’ success is our success, so we focus on creating loan terms and processes that truly foster profitable outcomes.

7. Adaptable Exit Strategies

The real estate landscape in New York is as varied as the properties themselves. OfferMarket supports multiple exit strategies to let you pivot based on local demand and your evolving investment goals. You can renovate and flip the property for a quick sale in a hot neighborhood, or hold and refinance into a rental if market conditions suggest that steady cash flow would be more advantageous. By giving you the flexibility to change plans mid-course, we help you navigate market fluctuations and capitalize on the best opportunities available.

New York Fix and Flip Loan: Documentation Requirements

Our streamlined approval process requires specific documents to assess your project’s viability and keep everything compliant. See below for the necessary paperwork for both purchases and refinances in New York.

Purchase Transaction Requirements

Refinance Transaction Requirements

Special Requirements for Loans Over $1M

For projects where you seek more than $1 million (up to $2 million), we have extra requirements:

Glossary of Key Terms

Get an Instant Fix and Flip Loan Quote in New York

OfferMarket is dedicated to being your go-to funding partner for real estate investments throughout New York. Our Fix and Flip Loan Program delivers the financial flexibility and competitive rates you need to thrive. Request your instant quote today and let’s embark on your next successful fix-and-flip venture in the Empire State!

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