DSCR & Investment Property Loans in New York

Lenders made 20,289 loans on investment properties across the New York counties in our data in 2024, 12,169 of them purchases, plus 4,423 loans on second homes. This page covers the New York rules investors ask about, every loan type by state and city pages for 314 cities and towns.

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New York rules and records for investors

Mortgage licensing: New York State Department of Financial Services
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.
Short-term rental tax registration: Sales tax on short-term rental unit occupancy. Operators of short-term rental units in New York must register as sales tax vendors and collect state and local sales tax and the unit fee, unless every rental is handled by a registered booking service that collects for them.
LLC and business entity filings: New York Department of State, Division of Corporations, State Records and Uniform Commercial Code.
Transfer taxes: Real estate transfer tax. New York taxes conveyances of real property or interests in it; the base tax is generally paid by the seller, but the buyer must pay if the seller does not or is exempt. Higher-priced residences and certain New York City conveyances carry additional taxes.
Contractor licensing: No state license; local home improvement licensing. The Department of State says New York State does not license home improvement contractors, but some localities do, including New York City, Suffolk, Nassau, Westchester, Putnam and Rockland counties and the City of Buffalo.
Foreclosure process: judicial. A New York foreclosure is a lawsuit the lender files in State Supreme Court; if a judge grants a foreclosure judgment, the property is sold at a court-ordered auction.
Recording taxes and fees: Mortgage recording tax (state, plus local mortgage recording taxes in New York City, Yonkers and some counties), paid to the county recording office when the mortgage is recorded; real estate transfer tax on deeds/conveyances (filed with Form TP-584, or TP-584-NYC in New York City), including the additional 'mansion tax' on higher-priced residential purchases, which is paid by the buyer.

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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.

Investor loans in New York

Larger New York cities

https://www.dfs.ny.gov/apps_and_licensing/mortgage_companies
https://hcr.ny.gov/sonyma
https://hcr.ny.gov/programs-add-features
https://tax.ny.gov/pit/mortgage/mtgidx.htm
https://ag.ny.gov/publications/residential-tenants-rights-guide
https://tax.ny.gov/pubs_and_bulls/publications/sales/short-term-rental.htm
https://dos.ny.gov/form-corporation-or-business
https://www.tax.ny.gov/bus/transfer/rptidx.htm
https://dos.ny.gov/news/consumer-alert-nys-department-states-division-consumer-protection-provides-new-yorkers-tips
https://nycourts.gov/CourtHelp/HOMES/foreclosureBasics.shtml
2024 HMDA data (occupancy type)