Fast Hard Money Loans For Experienced Investors

Delancey Street provides hard money loans nationwide to investors who have a verifiable track record. We fund up to 70-80% LTV, and focus on residential projects such as: buy and hold, fix and flips, and commercial real estate acquisitions. The biggest factor we look at is the experience of the investor and the LTV of the project they're requesting assistance with.

80% LTV

We fund loans up to 80%
LTV with no issues.
We DO NOT do 100% financing.

Fast

We promise to treat you
like a partner.
We don't like wasting time

No $ Limit

No limits on what we can
do for you.
We max out at 80% ARV.

70-80% LTV For Seasoned Developers Nationwide

Fix and Flip, Cash-out Refinance, and Acquisition Loans
For Experienced Real Estate Developers.

We Fund Real Estate Projects Nationwide

We fund projects nationwide, ranging from fix and flips, to commercial acquisitions. Bottom line, we can help - regardless of the size, or difficulty of the project. We do not do 100% financing - and prefer working with experienced real estate investors.

Recently Funded Projects

Hard Money

Financing for fix and flips, commercial estate, and acquisitions / refinancing
Financing up to 70% of the After Repair Value
We charge 9-10% on average, with no junk fees

chicago Fix and Flip Lenders

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Delancey Street is a premier, and top rated – fix and flip lender. We fund fix and flip loans all over the USA. We understand how important it is that you have a fix and flip lender on your side – who believes in your project, understands its potential, and is willing to fund you ASAP. Many of our team members do fix and flips themselves, and thus – needless to say, we can help you with yours.

Fix and flip refers to a real estate investment deal. An investor acquires a property and rehabilitates it to make it desirable. The single-family home is then sold for market value at a much higher rate than it was initially bought at. The repairs made on the property make it a desirable home for prospective buyers, and once sold, the investor stands to make a hefty profit.
Repairs are done throughout the home. A bedroom may be updated, a new kitchen added, the basement finished, and the landscaping improved. The transformation improves curb appeal to prospective buyers, and each repair adds value to the property.
The flip portion of the real estate transaction refers to the act of selling the property in a short amount of time. Locating the buyer or prospective renter must be done quickly, so as to help repay the loan. The goal is to get a good profit on the property once sold.

What are hard money lenders?
These lenders offer loans that are secured by the asset itself, which is the home. The most promising projects are those that are led by experienced real estate investors. These lenders understand the complexities of these transaction, and many have once been real estate investors themselves. These lenders know what it takes to rehab a property and sell it for profit.
Private and hard money lenders look at the investment property. They want to know the purchase price of the property and the plans you have to fully restore the property. If they can see that the investor has the ability to purchase the home, perform the repair work efficiently, and sell the home quickly, you will get funding for the property.
The lending decision is based off of the potential of the property. This means the person can have poor credit or no credit, no job history, and not have any documented income or assets but still qualify for a loan.

How are lenders able to provide private loans and hard money loans like this?
Whenever capital is used from private investors, the traditional lending rules no longer apply. The person doesn’t have to qualify according to the FHA guidelines or meet the requirements of traditional banking institutions.
The terms of a fix and flip loan are very short, averaging anywhere from five to twelve months. During this period, no payments are required of the borrower. This gives you very little room for error, so you should know what needs to be done to quickly rehab and sell the property to pay the debt off. In failing to do so, you run the risk of foreclosure and could lose your hard-earned dollars invested in the project.

New construction loans for businesses in Chicago are called commercial construction loans. These loans help business owners renovate or build a new building. A commercial construction loan helps pay for the construction of the new building. A new construction loan differs from a commercial mortgage because of the way it disburses and the way the borrower pays.

A traditional commercial mortgage supplies funding for an existing building. Mortgages disburse funds in a lump sum. A construction loan disburses funds when the project hits certain milestones. A borrower pays the principal and interest right away when they pay a mortgage. When a borrower makes payments on a traditional commercial construction loan, the interest on the funds disbursed is all they pay until the last disbursement. The borrower can apply for a commercial mortgage to pay off the lump sum of the construction loan.

Qualifying for a Commercial Construction Loan

This is a high-risk loan, so the application process tends to be lengthy for a traditional construction loan. Once you have the detailed costs and timeline of your construction project, you are ready to apply for a loan. Your credit needs to be as high as possible. Lenders like to see credit scores in the 700s, but some programs will honor loans for scores that are in the high 600s. You will need a down payment of 10% to 30% depending on the lender and how you qualify in other areas. Your debt-to-income ratio usually must be under 43%.

Like qualifications, interest rates and fees vary by the lender. Interest rates are between 4% and 12%. You will also see various fees attached to your construction loan.

Funding for Commercial Construction Loans in Chicago

The Small Business Administration offers two loans for businesses that want to expand. The first loan is the SBA CDC/504 Loan. This loan is 10 to 20 years long and has a fixed rate. An SBA-approved development company pays for 40% of the costs, while another lender supplies 50%. Your down payment is the remaining percentage. Sometimes the down payment is higher than 10%. The second program is called the 7(a) Program. The 7(a) program is used for buying a building or new construction. Interest rates vary based on the amount of the loan.

Banks offer traditional construction loans. These loans have a lengthy application process, but they have a lower interest rate than alternate funding.

Mezzanine loans offer the borrower a way to help fund a down payment or smaller amount for the construction project. Sometimes it is hard for a borrower to find the funds for a down payment, so this type of loan uses stock for security. If the borrower defaults the lender can convert to owning equity in the company.

When borrowers use private lenders or hard money loans for construction there are benefits that aren’t typical of traditional loans. They are easier to qualify for and borrowers usually get the money for the project faster. These loans are short-term and have higher interest rates than banks offer.

Commercial construction loans are a terrific way to find funding and expand a successful business in Chicago. A business may have to combine funding sources to have enough money for the entire project. A combination of construction loan and mortgage is typical for most business owners unless they use an SBA program.

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Delancey Street is here for you

Our team is available always to help you. Regardless of whether you need advice, or just want to run a scenario by us. We take pride in the fact our team loves working with our clients - and truly cares about their financial and mental wellbeing.

"Super fast, and super courteous, Delancey Street is amazing"
Leo
$125,000 Small Business Loan
"Thanks for funding me in literally 24 hours"
Jason
$35,000 Lawsuit Advance
"Great choice for first time fix and flippers"
Mary
$250,000 Hard money Loan

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