Mortgage Financing in a New Condo Development
For more than 27 years, GuardHill has been a leader in providing mortgage financing to borrowers in the new condo development market. Headquartered in NYC, we understand condo and co-op mortgages better than any other national lender. As a direct lender, we can quickly approve loans with great interest rates up to $20 million.
Start the process with us when you begin your apartment hunt. With a pre-approval from GuardHill, you will have a strong offer and show intent to purchase to both your agent and the building’s developers.
Why Work with GuardHill on a New Condo Development Purchase?
- We lend in virtually every building in the Metro NYC area and are a preferred lender in several.
- We know how important it is to work closely with the building’s sales team, sponsor and developer to give accurate feedback and drive closings.
- We can approve a building within a week.
- We pre-approve clients for the sponsor*.
- We will work with the sponsor and closing attorneys of the building.
- We have a strong in-house underwriting team that specializes in new condo development financing.
- GuardHill operates under the same experienced leadership team that has been in place for over 27 years.
*Sponsor: the sponsor most of the time is the developer of the building that sells the units to individual buyers. Most developers continue to be the sponsor, but the selling of the units could also be assumed by another party.
Experts in Financing New Condo Developments in New York City and Beyond Since 1992
Headquartered in New York City, GuardHill has extensive experience in financing purchases and refinances in new condo developments in New York City and within the Tri-state Area. Due to our high lending volume, we have built trust with many contacts in the new condo development industry. This allows us to acquire faster approval times for our clients. When you apply for a new condo development mortgage, GuardHill will need updated budgets, financials, and questionnaires from the condo for every transaction. This helps document any updates or changes from previous documentation on prior loans.