Great Lakes Private Lending for New York investors
Great Lakes Private Lending is a smaller regional private money operator with Chicago and Wisconsin coverage.
New York context
New York City DSCR rarely pencils. Upstate metros (Buffalo, Rochester, Syracuse) produce strong cash flow. NYC strict rent stabilization.
How Great Lakes Private Lending positions in New York
For New York specifically, Great Lakes Private Lending fits investors who match the private money approach. The low cash flow profile of New York aggregate makes it workable for Great Lakes Private Lending.
City-level coverage in New York
Great Lakes Private Lending provides DSCR coverage across New York metros including New York City, Buffalo, and Rochester. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Great Lakes Private Lending program terms apply uniformly across New York metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | Private money |
|---|---|
| Products | fix-and-flip, bridge, rental, private notes |
| Loan size | $50K - $2.0M |
| Rates | 9.5%-12.5% |
| Points | 1.5 - 4 |
| Max LTV | 70% of ARV |
| Term lengths | 6-18 months |
| Typical close time | 5-10 days typical |
| New York property tax | 1.7% |
| New York state income tax | 10.9% |
Great Lakes Private Lending strengths in New York
- regional Midwest focus
- investor-friendly underwriting
Ideal borrower: Chicago or Wisconsin investor
FAQ
Likely; verify direct New York coverage. Great Lakes Private Lending is based in Chicago, IL and operates in Chicago and Wisconsin.
New York City is the top investor market in New York and is generally within Great Lakes Private Lending Chicago and Wisconsin footprint. New York City property tax follows the New York state rate of 1.7 percent. Great Lakes Private Lending typically underwrites New York City acquisitions at standard rate sheets.
Yes. Buffalo ranks among the larger New York investor metros and sees consistent DSCR loan volume from Great Lakes Private Lending. Submarket variation within Buffalo matters for property selection.
Great Lakes Private Lending applies the same rate sheet across New York metros. Pricing variation comes from property-specific factors rather than metro location within the same state. New York City, Buffalo, and Rochester all qualify for the same Great Lakes Private Lending program.
Great Lakes Private Lending indicative DSCR rate range is 9.5 to 12.5 percent with 1.5 to 4 points.
New York City DSCR rarely pencils. Upstate metros (Buffalo, Rochester, Syracuse) produce strong cash flow. NYC strict rent stabilization. Great Lakes Private Lending follows standard business-purpose loan structures.
Great Lakes Private Lending funds fix-and-flip, bridge, rental, private notes in New York.
New York has some restrictions on prepayment penalty structures; Great Lakes Private Lending typically uses 3-5 year step down.
Great Lakes Private Lending typical close: 5-10 days typical.
Bottom line
Great Lakes Private Lending in New York works for the right borrower-deal combination. Match the lender to your deal characteristics.
Independent directory listing. DSCR Loan Program is not affiliated with Great Lakes Private Lending.