Bridge loans are short-term loans, also referred to as hard money loans. Their function is to provide immediate financing for real estate. These loans are typically replaced with permanent bank financing once construction is completed or a real estate investment is stabilized.
At Mansby Capital, we offer the following expert services in the state of New York:
These loans can be used to cover the purchase of raw land, an existing single-family home, or existing multi-family property. They usually last no more than two years, after which the borrower will typically refinance the acquisition loan into a more permanent mortgage.
Construction loans are typically used to cover the costs associated with constructing a building. Building materials, contractor labor, permits, and professional fees are only a few of the essentials covered by a construction loan. This type of loan usually lasts no more than two years, after which the borrower will typically refinance the construction loan into a more permanent mortgage.
Designed to help purchase and renovate a property before selling or refinancing it, fix and flip loans combine acquisition and construction loans into one, making it simpler for borrowers. They are an excellent way to provide fast funding when buying via foreclosure or auction.
At Mansby Capital, we pride ourselves on being a leading New York bridge lender serving builders and real estate investors. We specialize in land acquisition, multifamily acquisition, new construction, and rehabs. We know that speed matters and can close even the largest loans in a short time.
If you are looking for a team of bridge loan lenders in Westchester County, Nassau County, Suffolk County, and beyond, please contact us by completing the linked form or call us at 212-330-9000.
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