Frequently Asked Questions
Straight answers to the questions investors ask us most often. If your situation is not covered here, call and ask.
What is a hard money loan?
A hard money loan is financing secured primarily by real estate rather than by the borrower’s credit profile. The lender underwrites the strength of the property and the exit plan. Because that analysis is different from a bank’s, decisions and closings can happen far faster.
How is North Shore Funding different from a bank?
We lend our own capital. There is no loan committee sitting between you and an answer, and no obligation to fit your deal into a standardized product. We structure the loan around your actual timeline.
How fast can you close?
When a closing window is tight, we are built to move — real answers fast, and closings measured in days rather than months. The exact timeline depends on the property and how quickly diligence items come together.
Do I need good credit to qualify?
We underwrite on the strength of the real estate and the exit plan, not solely on credit history. An active or recent bankruptcy does not automatically disqualify a deal with us.
Do I need prior renovation experience for a fix and flip loan?
No. Prior renovation experience is not a prerequisite on our fix and flip program.
How much of my project can you finance?
On most fix and flip transactions, up to 90% of purchase price and 100% of the rehabilitation budget is available, with draws released against completed work. Other programs are structured to the transaction.
What areas do you lend in?
Long Island, the five boroughs of New York City, and Westchester County.
What kinds of property do you lend on?
Investment and commercial real estate. We do not lend on 1–4 unit owner-occupied residential property.
Can you help if I am facing foreclosure?
Often, yes. A pending foreclosure does not have to mean losing the property or the equity in it. We can move quickly to refinance a distressed loan into private capital, giving you room to sell, refinance conventionally, or otherwise resolve the situation on your own terms. See distressed property financing.
My existing loan is maturing and I cannot refinance in time. Can you help?
That is a common reason investors call us. If an existing loan is coming due and a traditional refinance is not lining up in time, a short-term bridge can cover the gap while a permanent solution is arranged.
I own several properties. Can I borrow against them together?
Yes. Our cross collateral program lets investors leverage a portfolio as a whole rather than refinancing each property separately — useful when you need to move quickly on a new opportunity without selling off equity elsewhere.
How do I get started?
Call us or submit the details of your property and transaction, and a loan officer will follow up directly.
Office: (516) 921-9000 · NYC: (212) 585-1000 · Cell: (516) 367-3000
North Shore Funding Partners, LLC · NMLS #289341