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Hard money loans in Lynn, MA
Loans for flips, rentals and construction in Lynn and across the North Shore.
Investing in Lynn real estate
Lynn is the largest city on the North Shore and one of the more affordable places to buy near Boston. Commuter rail on the Newburyport/Rockport Line links it to North Station, and the city has an ocean frontage that few places at its price point can match.
The housing is mostly older: two- and three-family homes across West Lynn and East Lynn, Victorian single-families in the Diamond District near the shore, and former commercial buildings downtown that have been turned into lofts and apartments.
Neighborhoods investors ask about
- Diamond District: historic single-family homes near Lynn Shore Drive
- West Lynn and East Lynn: two- and three-family homes
- The Highlands: dense multi-family streets above downtown
- Pine Hill and Wyoma: single-family homes near Lynn Woods
- Downtown: loft conversions and new apartment buildings
What to plan for on a Lynn deal
- Older multi-families often need new electrical service, heating and porch repairs.
- Homes near the water may be in a flood zone. Price the insurance before you make an offer.
- Most of the housing predates 1978, so the Massachusetts lead law applies to rentals where young children live.
- A DSCR loan on a multi-family counts the rent from every unit toward the ratio.
Loan programs for Lynn investors
| Program | What it funds | Maximum leverage |
|---|---|---|
| Fix and flip loans | Buying and renovating a property you plan to resell | Up to 90% of purchase and 100% of rehab, capped at 70 to 75% of after-repair value |
| DSCR rental loans | Buying or refinancing long-term and short-term rentals | Up to 85% loan-to-value on a purchase, up to 80% on a cash-out refinance |
| New construction loans | Ground-up builds, including the land | Up to 90% of cost for experienced builders, capped at 70 to 75% of completed value |
| Portfolio and commercial loans | Several rentals under one loan, plus multifamily and commercial property | Up to 80% on a portfolio purchase; commercial quoted deal by deal |
Lynn hard money loan questions
Yes. We lend on investment property in Lynn and across the North Shore, including fix and flip loans, DSCR rental loans and new construction loans.
Yes. Two- to four-family homes can be financed with a fix and flip loan or a DSCR rental loan. Larger multifamily buildings are financed through our commercial program.
Programs start at a 600 credit score. The best fix and flip leverage, up to 90% of purchase and 100% of rehab, is for scores of 720 and above.
Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are complete. Rental and DSCR loans take about 30 days, including the appraisal.
Other Massachusetts markets
Have a deal in Lynn?
Tell us the address, the purchase price and your plan for the property. We will come back with leverage and pricing for your scenario.