New York Investor Loans — NONI Program

New York’s investor market is as varied as any in the country. Manhattan and Brooklyn command premium prices with exceptional rent demand. Queens, the Bronx, and Staten Island offer more cash-flow-accessible urban markets. Long Island (Nassau, Suffolk) combines suburban professional tenant demand with significant entry prices. Upstate metros — Buffalo, Rochester, Syracuse, Albany — deliver materially better rent-to-price ratios. We serve New York investors through our NONI program, which is the DSCR-style investor loan available in NY per our wholesale partner’s state coverage.

NONI qualifies investors on the property’s rental income (same core concept as DSCR) with higher loan amounts (up to $3.5M), no ownership seasoning on cash-out refinance, and a dedicated foreign-national program — features especially valuable in New York’s high-balance and international-investor markets.

Check Eligibility Talk to a NY Investor Loan Specialist — (833) 350-9185

Why NONI (Not Standard DSCR) in New York

Our wholesale partner’s state coverage specifies New York as NONI-only — standard DSCR isn’t offered in NY through that partner. NONI is a premium tier of the same rental-income qualification concept with additional features appropriate for New York’s market profile.

Key NONI advantages for NY:

Loan amounts up to $3.5M — essential for NYC and premium Long Island markets
No ownership seasoning on cash-out refi (DSCR 1.15+) — useful for cash-purchased properties
Dedicated foreign-national program — accommodates significant international investor activity
85% LTV on purchases with 700+ FICO — higher leverage than many DSCR programs
LLC vesting — standard NY investor practice

Full NONI program details →

How NY Investors Use NONI Loans

NYC multi-family investing. 2-4 unit brownstones, row homes, and small apartment buildings in Harlem, Bedford-Stuyvesant, Crown Heights, Bushwick, Washington Heights, and outer-borough neighborhoods. NYC DSCR math is tight at high prices — NONI’s 85% LTV and cash-out flexibility stretch leverage further.

Queens, Bronx, Staten Island cash flow. These boroughs offer materially better rent-to-price ratios than Manhattan or prime Brooklyn. Single-family and 2-4 unit rentals produce more favorable NONI math.

Long Island professional rentals. Nassau and Suffolk offer suburban professional rental demand. Prices are high — NONI’s leverage matters.

Upstate cash flow. Buffalo, Rochester, Syracuse, and Albany produce rent-to-price ratios comparable to Midwest cash-flow markets. Single-family rentals in the $120K–$220K range with rents of $1,050–$1,550 yield NONI-eligible DSCR ratios well above minimums.

Short-term rentals. Hudson Valley (Catskills, Hudson, Kingston), Finger Lakes, and Adirondack destinations support STR markets. NYC STR is heavily regulated — confirm specific property permit status.

Foreign-national investing. NYC attracts substantial international investor activity. Our NONI foreign-national program accommodates buyers without U.S. credit, income, or employment history. Reserves can be verified from foreign accounts.

NONI Program Requirements (New York)

Loan amounts: $100,000 – $3,500,000
Minimum FICO: 620 (U.S. borrowers); foreign-national program waives U.S. credit requirement
Purchase LTV: Up to 85% (700+ FICO); 75% foreign national
Cash-out LTV: Up to 75%; no seasoning required at 1.15+ DSCR
DSCR minimum: 1.00 (0.75 available on SuperNONI)
Property types: 1-4 unit residential investment, condo (non-warrantable OK)
Income docs: None
Vesting: Personal name or LLC
Term: 30-year fixed, 40-year IO options
NY constraint: No second liens allowed in NY (first-position mortgages only)

New York-Specific Considerations

NYC STR regulations are extremely restrictive. NYC’s Local Law 18 (2023) effectively prohibits most short-term rentals under 30 days in multi-unit buildings and restricts single-family/condo STRs. Buying NYC property with STR income assumptions is dangerous — always assume long-term rental income as the baseline.

Tenant-protective laws. New York has strong tenant protections including rent stabilization (on many multi-unit pre-1974 buildings in NYC), right-to-counsel in housing court, and long eviction timelines. Plan for extended vacancy recovery. Strong property management is essential.

Rent stabilization exposure. Significant portions of NYC multi-unit pre-1974 buildings are rent-stabilized, which caps rent increases and affects NOI underwriting. Verify a specific property’s rent-regulation status (via DHCR records) before committing.

Upstate New York offers cash flow. Buffalo, Rochester, Syracuse, and Albany markets produce NONI-qualifying DSCR ratios more easily than NYC. Upstate is the practical DSCR play in NY.

Property taxes. NY property taxes vary widely — NYC has complex class-based assessment, Westchester has very high rates, upstate much more moderate. Always verify specific property tax estimates.

No second liens in NY. Per wholesale partner constraint, NONI in New York is first-lien only.

Frequently Asked Questions

Our wholesale partner’s state coverage specifies New York as NONI-only. NONI is a premium tier of the same rental-income qualification concept (no tax returns, no W-2s) with higher loan amounts and more features appropriate for New York’s high-balance market.

No, in most cases. NYC Local Law 18 (effective 2023) prohibits most short-term rentals in multi-unit buildings and restricts residential STRs severely. Underwriting NYC investment properties should use long-term rental income, not STR projections. Hudson Valley and upstate STR remains more permissive but verify local rules.

Rent stabilization caps how much landlords can raise rent on covered units. Many NYC multi-unit pre-1974 buildings have some or all units stabilized. Rent-stabilized rents often run materially below market, which directly reduces DSCR math. Verify status before offer — property disclosures don’t always catch this.

Yes via our NONI foreign-national program. No U.S. credit history, no U.S. income, no U.S. employment required. Reserves verified from foreign accounts. 75% purchase LTV, 65% refi LTV. A common path for international investors targeting NYC.

Yes for cash-flow-focused investors. Buffalo, Rochester, Syracuse, and Albany produce DSCR ratios comparable to Midwest markets. The trade-off is slower appreciation than downstate. Investors choosing between NYC appreciation and upstate cash flow commonly go upstate for DSCR purposes.

Get Started

Looking at New York investment property? Call (833) 350-9185 or check NONI eligibility .

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New York NONI Investment Loans | No Income, No Asset Verification