{"id":48143,"date":"2024-09-17T14:41:38","date_gmt":"2024-09-17T21:41:38","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=48143"},"modified":"2026-02-04T08:35:44","modified_gmt":"2026-02-04T16:35:44","slug":"buyer-hard-money-lenders-long-island","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/buyer-hard-money-lenders-long-island\/","title":{"rendered":"Hard Money Lenders Long Island: Alternative Financing Options"},"content":{"rendered":"

Looking to fund your next real estate project on Long Island with a hard money loan<\/a>? Whether you’re flipping a beach bungalow in the Hamptons or investing in a rental near Huntington, hard money lenders on Long Island offer quick, flexible financing options that traditional lenders might not provide. These loans can be a game-changer for projects with tight timelines, limited initial capital, or credit hurdles.<\/p>\n

If you’re not in the investment game but need a solution to bridge the gap between buying and selling a home, we’ll also explore alternatives to help leverage your home’s equity.<\/p>\n

This guide will walk you through hard money lending in Long Island, providing insights to help you determine if this option fits your real estate ambitions.<\/p>\n\n\n\n\n\n

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Start Making Offers Without Waiting to Sell Your Home<\/h3>\n

Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.<\/p>\n \n

\n Buy Before You Sell<\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n

Editor\u2019s note: This post is for educational purposes and is not intended to be construed as financial advice. HomeLight always encourages you to consult your own advisor.<\/em><\/p>\n

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What is a hard money lender?<\/h2>\n

A hard money lender is a private individual or company that offers short-term loans secured by real estate. Unlike traditional lenders that focus on credit and income, hard money lenders in Long Island prioritize the property’s value. Their clients often include house flippers<\/a> and those investing in rental properties<\/a>, needing fast, flexible financing.<\/p>\n

Hard money lenders use the after-repair value (ARV)<\/a>\u2014the estimated value of a property post-renovation\u2014to determine loan amounts, often lending a percentage of this ARV.<\/p>\n

Interest rates on hard money loans typically range from 8% to 15%, with additional costs like origination fees and points. If a borrower fails to repay, the lender can seize the property to recoup their investment.<\/p>\n

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How does a hard money loan work?<\/h2>\n

If you’re exploring alternative financing for your real estate project on Long Island, a hard money loan might be the solution. Here\u2019s a breakdown of how these loans work:<\/p>\n