Chat with us, powered by LiveChat Hard Money Loans | Best Hard Money Lender | Fast - Reputable - You're Treated Like a Partner | Delancey Street

Fast Hard Money Loans

We empower entrepreneurs, real estate investors, and businesses of all sizes challenge the status quo. We take risks on the go-getters, and do’ers – who have an opportunity and need a partner. At Delancey Street, our hard money is used to invest in people and their ideas – not abstract concepts like credit scores, or other financial metrics. Tell us about your idea, let’s discuss your opportunity

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High LTV

We fund hard money loans up to 80-90% LTV with no issues.

2

Fast

We promise to treat you like a partner

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No $ Limit

No limits on what we can do for you.

Recently Funded Projects

Business Funding

Our client was a trucking company based out of NY, that needed quick funding. In 24 hours, we arranged $100,000 in funding.

Raised
APR
ARV
700,000
9,0%
60%
100% Funded!

Residential Refinance

We funded a purchase in California, for $1.2 million with 65% LTV. We helped the developer with with a 11% loan with balloon payment.

Raised
APR
ARV
1,200,000
11%
82%
100% Funded!

Lawsuit Funding

Client was injured in a car accident and needed a cash advance on the future value of his lawsuit. In 48 hours, our funders wired funds over.

Raised
APR
ARV
830,000
8,99%
75%
100% Funded!

PARTNERS FIRST.
LENDERS SECOND.

Hear from people we've helped

Delancey Street makes lending easy. They took a chance on me when no one else would.

Leo kovacz

Founding Partner (Zooomr Car Leasing)
Delancey Street funded our e-commerce shop and really gave us the chance to grow our business significantly.
Delancey Street makes lending easy. They took a chance on me when no one else would and helped my...

TJ

~

Industries We Service

Cannabis
Residential Real Estate
Commercial Real Estate
Startups

Our team is always available, and ready to help

Our team of industry experts is ready to help with all of your business needs. Whether you’re looking for a reliable hard money lender, looking to go public via a reverse merger, or need private capital for a venture – we can help.

Industry Experts

Our team consists of extremely qualified industry experts

Quick Service

We work diligently, and quickly, to help you

Fast Hard Money Loans

Hard money loans, are unlike conventional bank financing. These loans are considered, “privately funded loans,” as the requirements vary from one lender to the next. lenders are concerned with one thing: the collateral, and equity protection. Rates are higher than conventional loans, but funding times are faster, and loan criteria and repayments terms can be individually tailored. loans are referred to as a last resort, depending on your exact situation. Experienced investors know that if you want a property – you have to move fast. When you want to buy a property within a few days, a loan is the only way to do it. Traditional loans take time. It’s impossible to get a traditional loan approved in 3-12 days. Most traditional lenders take 1-3 months to approve you loan. Because loans are secured by real estate, they come with different guidelines. For example, credit score doesn’t matter in a loan. The lender only looks at your collateral. Traditional lenders however, will never give a loan based on collateral only. In contrast, lenders will. Traditional lenders care about your credit – whereas lenders do not.

The funds in a hard money loan come from private lenders who are interested in lending their money for interest. lenders charge a higher than average interest rate – compared to traditional institutions. The source of the funds can come from an individual, or a pool of investors, who invest in your loan. Often, many will pool their money and work with a commercial lending asset manager, or through a broker who facilitates the loan.

As a result, a hard money loan is used mostly by real estate investors who are interested in conducting transactions and need a source of money to leverage. Banks tend to not loan to investors, because banks want to make sure they’ll get paid back. Banks look at things like collateral, personal finances, and your credit score. lenders will often look at the LTV – loan to value – ratio, when evaluating your deal. Lenders prefer a low LTV – no more than 70-80%.

lenders are useful when time is off the essence. can help you capitalize on critical opportunities – with fast loans, with no credit/income verification checks. If you can’t get funding through conventional means – then consider speaking to a lender. It’s a great option for short term financing.

Typically, it can take 5-10 days to get funding for a hard money loan. Traditional banks take anywhere from 4-8 weeks. Lenders like Delancey Street can fund faster because our loans are funded directly. That means less paperwork, and less red tape involved in funding the loan. Moreover, you can get a loan even if you have bad credit! Credit is not an issue. You should, however, have a plan on how you will repay the loan. Our funding criteria is based on equity in the property and your payment repayment plan. We make loans to foreign nationals, and entities – who have no credit. Typically, we’ll ask you for an appraisal to help us understand the loan to value ratio.

When to consider a hard money loan

Borrowers should consider a hard money loan, instead of a traditional lender, when you need quick access. Gaining access to this capital comes at a higher interest rate because the investor wants a higher ROI than investing it into bonds, savings account, etc. Moreover, the investor is aware a traditional lender won’t lend to you – and thus, he/she is taking on additional risk by investing in your project. Only turn to a lender if you REALLY need this money.

While you can go to a traditional lender instead of a lender, in most cases if you’re looking for a loan it’s because you have a questionable financial history. Banks look for collateral, good credit, and cash flow. Moreover banks will make you go through a rigorous application process, and take time to make a decision.

Understanding Hard Money Loans

Life is simpler if you can get a mortgage for your case. Unfortunately, sometimes it’s not that easy. Sometimes you need money ASAP for a real estate purchase. If you don’t qualify for a conventional mortgage, then we can help you. Loans are one of many solutions, available for unconventional borrowers. Are they right for you? If not, what’s a better option? Keep reading, and we’ll educate you on loans, and how to make an informed decision.

These loans are a type of real estate loan. They are based off the value of the collateral(the property itself), rather than your capability to repay the loan. Here are some types of loans:

BRIDGE LOANS. These are used to allow someone to buy property quickly, with the goal of reselling it, or refinancing it. These allow someone to buy a new property ASAP.

FIX AND FLIP LOANS. These types of loans allow someone to buy a rehab property, and then fi it up quickly so it can resold later.

OWNER OCCUPIED LOANS. These loans allow consumers who don’t qualify for other types of financing to get a property for themselves.

CONSTRUCTION LOANS. These loans allow developers to get started on new construction projects, with the intent of refinancing, or selling it quickly.

Why Would a Hard Money Loan Be Denied?

Hard money lenders are considered flexible, and open minded, in contrast to traditional lenders. While it’s true that loans have less stringent requirements versus traditional loans, you could still face some pushback. Lenders will look at you, and your experience, and your business plan – very closely. Here are some things that might cause a lender to reject your loan request.

You Aren’t Putting Down Enough Equity

Applicants who plan on buying a property, or fixing and flipping, need to realize that hard money lenders want to see you have “skin in the game.” lenders will evaluate your application, and assess the chances of you succeeding. They look to see how much equity you’re putting into the project. Delancey Street looks to see how much of a down payment you’re putting down, and how much risk you’re taking. Our ideal partner has just as much risk as we do. Lenders typically look to see if the applicant has enough cash to cover the down payment on the investment property. It’s important that you be able to demonstrate that you’ll be able to complete the project – financially speaking. Keep in mind that most lenders will only approve an application where the real estate investor is taking some risk/liability on his/her shoulders as well. If you expect a lender to take a 90-100% risk then it’s likely the loan will get denied. It’s important you have enough cash to cover the down payment, and other smaller bills that might arise in the future. Be prepared to show some proof of cash, so the lender understands you have a plan and won’t abandon the project.

Business Plan

It’s important you demonstrate to the lender you have plan in place. lenders want to make sure they’ll get repaid. You have to show your plan, and how you’ll repay the loan in the future. When you accept a loan, you’re agreeing to a loan term – which means the loan has to be repaid within that period of time. If you don’t repay it, you forfeit ownership of the property to the lenders. Many lenders will refuse to lend you if you don’t have an exit strategy. It helps if you have cash reserves, or assets, in place to help cover the balloon payment in the event your plan fails. Most lenders prefer not to seize your collateral and sell it to settle the debt. They would rather get paid, and want to make sure the real estate investor they are working with is prepared to fulfill his obligations.

Not at all. While it is true, some borrowers are in distress when looking for – in many cases it’s investors who turn to .

No. We don’t believe in application fees. We believe many lenders who charge application fees are often “middle-men,” who are simply looking to make money by charging application fees. They are not actually interested in funding your deal.

Yes, it’s 100% possible. Many real estate investors often use loans to buy a property. They wait for 6-12 months, and then refinance the property with a traditional bank loan. Because you’ve bought the property, you can now “wait,” for the bank to take 2-3 months to approve your loan.

Delancey Street only provides loans for real estate investment properties. We do not lend on properties that are owner-occupied.

No. We don’t look at your credit score. We only care about the investment property. We look at the specifics of your deal, and focus our decision making process on whether or not we think the deal will “work.” Delancey Street is less concerned about your financial history, and more concerned about the deal itself. Typically, we look to see how much money the deal can realistically make – based on data – and try to understand whether or not the real estate investor has the skills to pull it off.

Real estate investors who have established themselves as trustworthy are eligible for our pre-approval process. We’re very transparent and straightforward, and can provide proof of funds for investors who work with us.

Hard money loans aren’t available to everyone. Typically, they can only be used for investment purposes. If you plan on using a loan to buy your own home, then it’s unlikely you’ll get approved. loans are typically given for a term of 6-24 months only. While it’s possible to get a loan for a period of time greater than this, it’s unlikely to be cheap – or easy. Most lenders will expect a balloon payment at the end of the loan for the principal and interest. Rather than making payments each month (like a traditional lender would expect), this gives you greater freedom. is great if you a short term loan that is approved fast.

Most traditional lenders are ok approving 80-90% LTV loans. In contrast, lenders expect you to bring some of your own money to the deal. Each lender will require you to bring at least 20-30% of the overall loan amount to the table. Most lenders lend at around 50-60% LTV. Anything greater than that will generally involve greater scrutiny.

At Delancey Street, we firmly believe we’re partners first. We treat you how we’d want to be treated and that means being transparent and honest with you at every step. It’s hard to say you’ll get approved in 24 hours guaranteed. It’s simply impossible to make such claims. What we can promise you is never to play games, or delaying the process. We use a very sophisticated algorit to evaluate potential deals, and give answers quicker than other lenders. The faster you send us the info, the quicker we can evaluate and fund it. It’s common for real estate investors to get a conditional approval within 24-48 hours of us reviewing their application.

Yes, it’s 100% possible. Many real estate investors often use loans to buy a property. They wait for 6-12 months, and then refinance the property with a traditional bank loan. Because you’ve bought the property, you can now “wait,” for the bank to take 2-3 months to approve your loan.

Fix and Flip Loans

Most traditional lenders will not give you a loan for a fix and flip project. If the house is in poor condition, or there’s some other abnormality with the house, then a traditional lender will not give you funding. In addition, most fix and flip potential deals “go fast.” The seller is very motivated to sell the property, and will accept the first offer. Traditional lenders take forever, so by the time the loan is approved – you’ve already lost the property since someone paid cash for it. If you have a lenderon your side who can close a loan in 5-10 days, you can get the fix and flip property.

People With Bad Credit

Most traditional and hard money lenders look at a borrower’s credit report. They verify your income, and investigate past delinquencies. It means that someone with a checked credit history will have a difficult time, and in some cases never get approved. When this happens, your only option is to work with a lender. While the interest rates for a loan are higher than traditional loans – if the deal makes sense, it might make sense to take the money.

Bridge Funding

Sometimes, your project goes over-budget and as a result you need additional funding. Some traditional lenders will refuse, because the project isn’t completed. While this can be devastating, a lender might be willing to lend you the funds. lenders are happy to give money to bridge the gap in funding, and can work with you to fill that void.

Hard Money Loans

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