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Hard money and fix and flip loans in Nassau County, New York
Financing for single-family flips, rentals and tear-down rebuilds across Nassau County on Long Island.
The Nassau County market for investors
Nassau County borders Queens and is mostly single-family homes, many of them Cape Cods, ranches and colonials built after World War II. Commuter rail service into Manhattan and strong school districts support high home values and steady demand.
Investors renovate dated houses for resale, hold single-family rentals, and knock down and rebuild on desirable lots. Each village, town and city has its own building department, so permit times vary by address.
Areas investors ask about
- Hempstead, Uniondale, Freeport and Roosevelt: lower-priced homes to renovate
- Valley Stream, Elmont and Baldwin: homes close to the Queens line
- Long Beach, Oceanside and Island Park: South Shore homes, many in flood zones
- Garden City, Manhasset and Great Neck: higher-priced homes and rebuilds
Plan for these on a Nassau County deal
- Outside New York City the mortgage recording tax is lower than in the city but still applies when the loan is recorded. Include it in your closing costs.
- Nassau has its own villages, towns and cities, each with a building department and zoning code. Confirm which one covers the address.
- South Shore communities are often in flood zones. Check the FEMA flood zone before you make an offer. Where flood insurance is required, the premium is part of the payment.
- Many Long Island towns license rentals and regulate short-term rentals. Check the town’s rules before you underwrite.
Loans available in Nassau County
| Program | Use it for | Top leverage |
|---|---|---|
| DSCR rental loans | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance |
| Ground-up construction loans | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value |
| Fix and flip loans | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value |
| Portfolio and commercial loans | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal |
Nassau County hard money loans: common questions
Yes. We finance fix and flips, rentals and construction throughout the county.
Yes, as ground-up construction loans at up to 90% of cost for experienced builders, with the lot included.
Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. In New York each side is represented by an attorney, and a title company insures the title.
Looking at a property in Nassau County?
Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal.