Renovo Financial for New York investors
Renovo Financial is the largest Chicago-based hard money lender. Founded 2011, they've closed thousands of loans across the Midwest and have particularly deep penetration in Chicago, Indianapolis, and Milwaukee. Strong relationships with the local broker community make them a default first-call for many Chicago investors.
New York context
New York City DSCR rarely pencils. Upstate metros (Buffalo, Rochester, Syracuse) produce strong cash flow. NYC strict rent stabilization.
How Renovo Financial positions in New York
Within New York, Renovo Financial competes alongside other DSCR lenders. Renovo Financial strengths: Chicago-based — strongest local market knowledge, experienced underwriting team. The low aggregate DSCR economics of New York create demand for Renovo Financial programs in New York City and Buffalo particularly.
City-level coverage in New York
Renovo Financial 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. Renovo Financial program terms apply uniformly across New York metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family |
| Loan size | $100K - $5.0M |
| Rates | 9.5%-12.5% |
| Points | 1 - 3 |
| Max LTV | 85% of ARV |
| Term lengths | 6-24 months (hard money) / 30-year (rental) |
| Typical close time | 7-14 days typical |
| New York property tax | 1.7% |
| New York state income tax | 10.9% |
Renovo Financial strengths in New York
- Chicago-based — strongest local market knowledge
- experienced underwriting team
- national reach with local depth
- strong fix-and-flip program
Ideal borrower: Experienced Chicago-area investor doing 2+ deals/year on SFR or 2-4 unit projects
FAQ
Likely; verify direct New York coverage. Renovo Financial is based in Chicago, IL and operates in Chicago / national.
New York City is the top investor market in New York and is generally within Renovo Financial Chicago / national footprint. New York City property tax follows the New York state rate of 1.7 percent. Renovo Financial 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 Renovo Financial. Submarket variation within Buffalo matters for property selection.
Renovo Financial 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 Renovo Financial program.
Renovo Financial indicative DSCR rate range is 9.5 to 12.5 percent with 1 to 3 points.
New York City DSCR rarely pencils. Upstate metros (Buffalo, Rochester, Syracuse) produce strong cash flow. NYC strict rent stabilization. Renovo Financial follows standard business-purpose loan structures.
Renovo Financial funds fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family in New York.
New York has some restrictions on prepayment penalty structures; Renovo Financial typically uses 3-5 year step down.
Renovo Financial typical close: 7-14 days typical.
Bottom line
For New York DSCR borrowers, Renovo Financial is one option among many. Compare against 2-3 lender programs before committing.
Independent directory listing. DSCR Loan Program is not affiliated with Renovo Financial.