Looking for a DSCR Lender Who Can Close FAST in NY (20 Days or Less)

[Amanda B.]

Hi BP community,

I'm an STR investor expanding my portfolio in New York and currently seeking a DSCR lender who:

• -Actively lends in NY state

• -Can close in 20 days or less

• - Offers flexible terms for residential investment properties

If you or someone in your network fits this description, please reach out ASAP — time is of the essence. I’m ready to move quickly with the right partner.

Thanks in advance for your recommendations and connections!

Best,

Amanda

[Erik Estrada]

Hey Amanda, 

Most DSCR lenders can close in 20 days. The biggest time killers are the appraisal, title, insurance, and any undisclosed hurdles about the deal.

As long as you have a fast title company, insurance and can pay extra for a rushed appraisal, you should have no issue getting closed quickly with any lender. 

NY is ok with most lenders. Some don't lend there because it is an attorney state. 

What kind of terms are you seeing already? Most DSCR lenders are going to offer more or less the same thing. Maybe a few bps here and there of savings, but nothing drastic.