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Interest-Only Investor Loans in New York

What New York investors should know, with county data and city pages.

An interest-only investor loan on a New York rental can make the early numbers look better, especially on a DSCR file where the lender compares rent with the payment. Before you rely on it, find out how the lender calculates the ratio, when the payment changes and what you would do if a refinance is not possible when the time comes. A licensed loan officer can lay out the full payment schedule for you.

Questions about Interest-Only investor loans in New York?

Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.

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New York landlord-tenant law: Residential Tenants' Rights Guide. The Attorney General's guide summarizes New York landlord-tenant law, including leases, renewals, rent regulation, deposits, repairs, and evictions. Leases you show a lender should follow it.

Where the numbers point in New York

Counties with the most interest-only investor loans (2024):

CountyInterest-only investor loans (2024)
Kings County651
Suffolk County600
Nassau County359
Queens County269
Bronx County249
New York County223
Orange County195
Westchester County159
Rockland County108
Erie County86
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Prefer to talk first? Call (888) 865-8230. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.

Interest-Only Investor Loans by city in New York

Common questions

What happens to my payment when the interest-only period ends?

The payment increases to include principal, and because principal is repaid over a shorter remaining term, the increase can be significant. If the rate is adjustable, it can also change on its own schedule. Ask for a written payment schedule that shows the payment during and after the interest-only period, and compare both against the rent you collect today.

What is an interest-only investor loan?

It is a rental property loan with an initial interest-only period, during which the payment covers interest but not principal. After that period, the payment rises to repay the balance over the remaining term. Investors use it to lower early payments on a rental. Because these loans are usually business-purpose, ask the loan officer which rules and disclosures apply to your file.

Does an interest-only payment help me qualify for a DSCR loan?

It can. A DSCR loan compares rent with the monthly housing payment, and an interest-only payment is smaller, so the ratio may be stronger. Some lenders, though, qualify you on the fully amortizing payment that applies later. Ask each lender which payment it uses in the ratio, since that can decide whether a property works on paper.

Other investor loans in New York

DSCR loansDSCR requirementsDSCR down paymentAirbnb / STR loansHard money lendersHard money for a primary homeFix and flip loansInvestor bridge loansPortfolio lendersBlanket mortgagesInvestment property loansHELOC on a rentalInvestor cash-out refiSecond home loansPrivate money lenders

Related guides

Interest-Only Investor Loans overview · New York investor loan overview

  • 2024 HMDA data
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