Fix-and-flip investing in New York moves on tight timelines and thin margins. Acquisition prices are high, renovation windows are short, and a lender who stalls at term sheet can cost an investor the deal or the deposit. Private and hard money loans fill the gap that conventional financing can't: they close in days rather than months, they underwrite the asset rather than just the borrower's W-2, and they carry enough flexibility to handle the deal types that banks decline. For real estate investors and mortgage brokers working deals across New York and the broader market, choosing a fix-and-flip lender comes down to three things: how fast the term sheet lands, whether the team that approves the deal is also the one funding it, and what the loan actually costs once all points and fees are counted.
Between January and July 2026, our research team evaluated 23 private and hard money lenders with active fix-and-flip programs for real estate investors in New York. We scored and rank-ordered the five top performers based on the following criteria:
We rank-ordered the five highest-scoring lenders using the weighted model. The table below shows the scores. In-depth summaries for each lender follow.
In the table below, we break down each lender across all six criteria, with a short "What Sets Them Apart" descriptor to clarify each placement in plain terms.
| Rank | Company | Underwriting Model & Deal Certainty (28%) | Speed of Execution (22%) | Track Record & Borrower Retention (18%) | Geographic Reach & Program Range (15%) | Capital Source & Stability (10%) | Rate Transparency (7%) | Overall Score | What Sets Them Apart |
|---|---|---|---|---|---|---|---|---|---|
| 1 | We Lend | 9.5 | 9.5 | 8.5 | 9.0 | 8.0 | 7.5 | 9.0 | Founder and underwriting team review and fund every deal; term sheets in 2–4 hours, most fix-and-flip loans close in 5–7 days, rescue loans in 48 hours |
| 2 | Stormfield Capital | 7.5 | 6.5 | 7.0 | 6.0 | 7.0 | 6.5 | 6.8 | Northeast-focused balance sheet lender; fully discretionary capital with in-house credit decisions from application through payoff |
| 3 | Center Street Lending | 5.0 | 6.5 | 7.5 | 7.5 | 5.0 | 8.0 | 6.4 | In business since 2010, positioned around national residential investor lending; in-house draw and servicing teams and a 4.8/5 Google review score |
| 4 | Malve Capital | 6.5 | 6.5 | 4.0 | 4.0 | 5.0 | 8.5 | 5.7 | New York-based direct private lender founded in 2022; openly lists starting rates and requires minimal documentation |
| 5 | Gelt Financial | 5.0 | 6.5 | 6.0 | 5.5 | 4.0 | 7.0 | 5.6 | Operating since 1989 with 10,000+ closed loans; no minimum credit score required and no appraisal on many deals |
We Lend was founded in 2018 by Ruben Izgelov, a real estate investor who had bought, flipped, and developed property before building a lending company around those same workflows. Brian Sachs serves as Director of Underwriting. The two of them, along with their team, review every deal and fund it directly. There is no credit committee to route a file through, no approval chain waiting for a sign-off from a capital partner. When an investor submits a deal, the people reading it are the people writing the check. Term sheets arrive in 2 to 4 hours (subject to underwriting). Most fix-and-flip loans close in 5 to 7 days from appraisal receipt. For deals in genuine distress, the rescue loan program closes in 48 hours.
The capital behind We Lend's loans comes from a friends-and-family investor base supported by a $20M Webster Bank credit facility, a structure that keeps decisions inside the organization. Published fix-and-flip pricing across We Lend's recent materials has ranged from 8.75% to 12.0%, with origination typically from 1.5% to 2.0% and no upfront fees. Loan sizes run from $150,000 to $15,000,000. Final pricing is subject to underwriting. The program funds up to 90% of acquisition costs and 100% of rehab. The company has funded over $700M across 1,400+ loans since 2018, with a 68% repeat borrower rate and zero principal loss on record. It operates in 46 states, with deal concentration in New York, New Jersey, and the broader tri-state market, and covers bridge loans, fix and flip, DSCR, ground-up construction, and rescue financing. Featured in Forbes, Business Insider, MarketWatch, The Real Deal, Crain's, and Commercial Observer, the company has a documented media footprint that backs its track record claims.
| Summary of Online Reviews |
| Borrowers citing We Lend in published reviews and media coverage point consistently to three themes: fast term sheets, direct access to decision-makers, and execution that held through closing. The main critique noted across a smaller subset is that rates sit above some national platforms, a trade-off borrowers reference in the context of certainty and same-day in-house decisions rather than rate alone. |
Stormfield Capital is a private credit platform co-founded by Wesley Carpenter and Timothy Jackson, both carrying institutional real estate credit backgrounds. The company describes itself as a true balance sheet lender: all underwriting, credit decisions, and servicing happen in-house from first review through loan payoff, with no third-party approvals or capital markets reliance. Fix-and-flip loans close in 7 to 10 days. The company's digital portal lets investors price and size a loan, submit an application, and request draws online, which reduces back-and-forth on documentation.
Stormfield reports $2B+ in principal funded, 2,000+ closed loans, and a 75% repeat borrower rate. Its geographic strategy is concentrated: Connecticut, Massachusetts, and New York are the primary markets, with some national reach for the right deal. Fix-and-flip rates start from 8.99%, per the company's own published terms and multiple third-party lender profiles, with reported points from 0 to 2.00%. The company also writes residential bridge, new construction, and multifamily value-add loans, as well as commercial bridge loans for transitional assets.
| Summary of Online Reviews |
| Stormfield Capital's funded-transaction page and borrower commentary highlight certainty of execution, consistent terms from approval through closing, and direct team access throughout the build. A recurring note is that the company's Northeast concentration means investors in other regions may find program availability limited. |
Center Street Lending was founded in 2010 and positions itself around residential investor lending at national scale. Its website at time of research cited $7.8B+ in loans funded across 9,750+ projects and 16+ years in operation. It holds a 4.8/5 score on Google reviews. Fix-and-flip loans carry rates starting at 8.75%, terms of 6 to 24 months, and LTC up to 95% (subject to underwriting). The minimum loan size is $200,000, with a minimum credit score of 650.
All draws and loan servicing are handled in-house. The company covers the majority of U.S. states and publishes dedicated location pages for New York and the New York City metro area. Its product set includes fix and flip, new construction, bridge, and DSCR loans. The company is headquartered in California (Irvine area), which means New York deals are handled remotely rather than from a regional office, and investors who prefer a lender embedded in the local market may notice that distance in the relationship.
| Summary of Online Reviews |
| Center Street Lending's Google review base references professional service when a previous lender fell through, fast draw turnarounds, and a team that keeps deals moving. Reviewers who flagged limitations mentioned that some states or deal types require case-by-case review, which can add time to the process. |
Malve Capital is a Port Washington, New York-based direct private lender founded in 2022 by Aryia Bala. The company publishes its rates directly on its homepage: starting at 9%, points of 1 to 2%, loan sizes from $50,000 to $10,000,000. Malve advertises no traditional minimum FICO barrier and emphasizes soft credit checks rather than hard pulls, though credit profile may still affect leverage and final terms. No tax returns, W-2s, or bank statements are requested. Its model strips the documentation burden down to property address, purchase price, and construction budget, and it advertises closings in as fast as 5 business days, subject to clear title.
Loan terms run 12 to 24 months with no prepayment penalty. Programs cover acquisition, fix and flip, refinance, and ground-up construction for single-family, multi-family, townhomes, condos, and commercial properties in the New York market. Because the company launched in 2022, its track record is shorter than most lenders on this list, and its geographic reach is primarily New York rather than multi-state. Borrowers who review Malve publicly mention direct team member access and same-contact-throughout handling.
| Summary of Online Reviews |
| Malve Capital's published borrower testimonials and BBB profile emphasize fast and painless closings, a dedicated team member who stays with the deal from application to close, and transparent published rates. The consistent limitation noted is that the company's footprint is primarily New York, so investors with deals in other states may not be served. |
Gelt Financial has operated as a direct private portfolio lender since 1989 and has closed 10,000+ loans. Loan sizes run $50,000 to $2,000,000, with closing times of 3 to 7 business days. No minimum credit score is required, and no appraisal is needed on most deals. LTV caps at 65% of current value, though the company can go higher with additional collateral. Borrowers deal directly with decision-makers rather than processors or intermediaries, a positioning the company has used since its founding.
Gelt covers most states but excludes AK, AZ, CA, HI, ID, MN, ND, NV, OR, SD, UT, and VT. Its programs include purchase, refinance, renovation, and foreclosure bailout financing, with a focus on commercial and investment real estate rather than purely residential fix and flip. Investors working on higher-complexity deals, distressed assets, or situations where traditional lenders have declined may find Gelt's experience with unusual collateral useful. The loan size ceiling of $2M does limit its usefulness for higher-value projects in New York's competitive metro markets.
| Summary of Online Reviews |
| Borrower testimonials on Gelt Financial's site and deal write-ups cite speed when banks say no, common-sense underwriting, and a team that handles complex situations. A recurrent note is that the $2M loan cap and the list of excluded states mean some investors need to look elsewhere for larger deals or activity outside Gelt's footprint. |
We also broke down the top lenders into three subcategories based on reader intent and deal type.
Speed in private lending is measured at two moments: the term sheet and the close. Some lenders are fast at one but slow at the other.
Not every deal is a clean acquisition. Some are rescues, some are distressed assets, and some come with the kind of file that makes conventional lenders walk away.
A first deal is a test of whether a lender can execute. A second deal is a vote of confidence. The lenders below have documented repeat borrower bases.
Have a deal? Apply now or call +1 212 777 7780. Term sheets in 2 to 4 hours.