What is a private lender?

A lender that is not a bank, such as a fund or an individual, lending on the property's value more than on the borrower's income. Rates and fees are higher and terms are short.

How do I compare hard-money lenders?

Compare the total cost: rate, points, extension fees and how fast draws are paid. A lender that closes on time is worth more than a slightly lower rate.

Does Hercules show the lender on every mortgage?

Yes. NYC reports list each recorded mortgage with its lender, the current holder, amount and whether it is still open. US and Long Island reports add the maturity date, estimated balance and equity.

How to find hard money lenders that are active in New York

The short answer

The hard-money lenders that are active in New York are the ones whose names appear on recent short-term mortgages to investors, usually LLCs buying to renovate. Read the lender on recent flips in your area, or connect Hercules to ChatGPT, Claude or Cursor and run its investor firm search, which finds hard-money and private lenders, funds and cash buyers in any state or city, with business phones, emails and key people.

Spot a hard-money loan

Clue	Why
Borrower is an LLC	Investors borrow through companies
Maturity of 12 to 24 months	Bridge and renovation loans are short
Lender is not a bank	A fund, an individual or a private lender company
A sale or refinance soon after	The investor finished the project and paid the loan off

Find active lenders

Open recent sales in the neighborhoods you buy in and read the mortgage on each.
List the private lenders that show up again and again.
In ChatGPT, Claude or Cursor with Hercules connected, ask for hard-money lenders in New York: you get firms with business phones, emails and key people after a credit quote.
Check which lenders foreclose often: the foreclosure plaintiffs page shows the lenders behind NYC cases.
Ask each for a term sheet: rate, points, loan-to-cost, draw schedule and extension fees.

See NYC foreclosure plaintiffs

Questions

What is a private lender?: A lender that is not a bank, such as a fund or an individual, lending on the property's value more than on the borrower's income. Rates and fees are higher and terms are short.
How do I compare hard-money lenders?: Compare the total cost: rate, points, extension fees and how fast draws are paid. A lender that closes on time is worth more than a slightly lower rate.
Does Hercules show the lender on every mortgage?: Yes. NYC reports list each recorded mortgage with its lender, the current holder, amount and whether it is still open. US and Long Island reports add the maturity date, estimated balance and equity.