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Hard money and fix and flip loans in Suffolk County, New York
Loans for single-family flips, rentals and new construction across Suffolk County, from the western towns to the East End.
The Suffolk County market for investors
Suffolk County covers the eastern two-thirds of Long Island, with larger lots, more new construction than Nassau, and a wide price range from the western towns to the Hamptons and the North Fork.
Investors renovate dated homes in Babylon, Islip and Brookhaven, hold single-family rentals, and build on larger lots. On the East End, seasonal rental rules and high land values shape every deal.
Areas investors ask about
- Babylon, Islip and Brentwood: lower-priced homes to renovate in western Suffolk
- Brookhaven, Medford and Patchogue: central Suffolk homes and new construction
- Huntington and Smithtown: higher-priced North Shore homes
- The Hamptons and the North Fork: high-value homes and new construction on the East End
Plan for these on a Suffolk 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.
- Each town, and many villages, sets its own rental permit and short-term rental rules. East End towns are especially strict. Check before you underwrite on seasonal rent.
- Waterfront and South Shore homes 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 homes in Suffolk use septic systems, and the county has been moving toward newer nitrogen-reducing systems. Price septic work into the scope.
Loans available in Suffolk 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 |
Suffolk County hard money loans: common questions
Yes. We finance fix and flips, rentals and ground-up construction across the county.
Yes, at up to 90% of cost for experienced builders, within 70 to 75% of the finished value.
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 Suffolk 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.