Ground-up construction loans in New York
Last updated
Hard money ground-up construction loans in New York are short-term, interest-only loans for investors on 1–4 unit investment property, typically 12 to 24 months. Lenders size them by purchase price, total cost and after-repair value and price them by your experience and credit. Compare New York lenders’ terms for your deal below.
Compare New York ground-up construction lenders
Enter your deal once and compare every lender whose rules fit it, side by side: loan amount, rate, points, fees and total cost.
- Free for borrowers
- No credit pull
- Takes about 2 minutes
Hard money lenders in New York
We publish live lender counts, rate ranges and leverage for New York once at least three lenders in our network with current pricing serve the state. Until then, the comparison above shows every lender that fits your specific deal.
New York rules investors should know
- Foreclosure process: judicial (the lender files a lawsuit and a court orders the sale). Judicial foreclosure usually takes longer, which some lenders reflect in leverage or pricing.
- Security instrument: loans are usually secured by a mortgage, recorded with the county where the property sits.
- Licensing: rules for business-purpose lending vary; lenders on our network confirm they hold every license their loans require. State agencies are listed by the Conference of State Bank Supervisors.
- Statutes: New York Code (via Justia).
How ground-up construction loans are sized
Lenders combine a land LTC (a percentage of the land price or value), a maximum loan-to-cost on land plus construction, and a maximum loan-to-completed-value (ARV). The lowest wins. Builders with more completed homes usually get higher limits.
What to compare
The construction budget is funded in stages (foundation, framing, dry-in, rough-ins, finishes) after inspections. Draw fees and the time between draws affect your cash needs. Try the draw schedule calculator.
New York markets
Largest cities by population (U.S. Census Bureau, 2024 estimates): New York, Buffalo, Yonkers, Rochester, Syracuse.
More in New York
- Fix and flip loans in New York
- Bridge loans in New York
- Construction draw schedule calculator
- How Construction and Rehab Draws Work on Hard Money Loans
- Fix and Flip vs Bridge vs Construction Loans: Which One Fits Your Project?
Nearby: New Jersey · Pennsylvania · Connecticut · Massachusetts · Vermont
Frequently asked questions
How do I find ground-up construction lenders in New York?
Enter your deal on Hard Money Lender Match and we show every lender in our network that lends ground-up construction loans in New York and whose rules fit your numbers, with loan amount and total cost side by side. It’s free and there’s no credit pull.
Is New York a judicial or non-judicial foreclosure state?
New York foreclosures are judicial (the lender files a lawsuit and a court orders the sale). The usual security instrument is a mortgage. Lenders factor the foreclosure process into their pricing and leverage. See the New York statutes.
Do lenders need a license to make ground-up construction loans in New York?
Licensing for business-purpose loans on 1–4 unit property varies by state and by how a lender is structured. Check with the New York financial regulator; the Conference of State Bank Supervisors lists every state agency. Lenders on our network confirm in their agreement that they hold every license their loans require.
Can I get a ground-up construction loan in New York with no experience?
Often yes, at lower leverage or a higher rate. Lenders set experience tiers in their pricing; our comparison shows only lenders whose tiers include you. See getting a hard money loan with no experience.
How much cash do I need?
Plan for the gap between your total cost and the loan, about 2 points, lender and title fees, and a few months of interest. Try the cash to close calculator.