Queens and Brooklyn New York financing

[Account Closed]

I need 100% financing including construction costs for two properties one in Queens New York one in Brooklyn New York the Queens property including rehab is  1,850,000 and after rehab we have   A buyer  for 2,500,000 

[Tony Anthony]

Did you find the 100% finance?

[George Despotopoulos]

@Tony Anthony without knowing much more than your two posts here I'm going to say it's safe to say he did not find 100%. Especially in New York City, where property prices are rather high as are construction costs. 

Regardless of the NYC market, 100% financing, excluding construction, is extremely rare. If you're looking to fund both your purchase price AND the construction, well that's even more so rare. It's not worth the risk to a lender. The most a lender will make is 3-5 points at closing and 14-15% interest rate. I don't think that is in any way worth their time when they're lending out above $50K for full LTV/LTC...just does not make sense to do so. The borrower has 0 skin in the game and the upside for the lender is minimal.