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

Hard Money Loans Atlantic City

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How is a hard money lender different from a traditional lender
The critical difference between traditional lenders and  hard money lenders is the fact hard money lenders are asset centric lenders. They look at on the collateral associated with the by the potential borrower. In contrast, traditional banks hone in on credit and how much cash the borrower has. It is very important to remember hard money loans are not good for the long run. The purpose of a hard money loan is to be a short term loan that gets you the commercial property you’re attempting to purchase. Hard money lenders focus on 6-24 month termloans that reap a great ROI. If you fail to pay the lender back, then the hard money lender can repossess your property in order to settle his/her loan.

Why is a hard money loan a bad idea?
There’s plenty of reasons reasons why a hard money loan is a bad idea. For instance, hard money lenders often charge higher interest rates. This is because of the fact hard money lenders think they’re taking substantial risks by lending on an investment property – and wish to be reimbursed accordingly. High interest rates make hard money loans unaffordable for some types of deals. Moreover, hard money lenders have much shorter terms than traditional lenders – that also makes them unattractive. Traditional lender offer 30 year periods but private money lenders offer only 1-3 year terms.

Hard money lenders can help finance your next loan
Hard money lenders assist a very specific group of individuals, i.e. property investors. Hard money lending is a type of short term financing, which is secured by property. Specifically, the men and women who use hard money loans are generally property investors – typically, people who are being denied a traditional loan as a result of stringent guidelines.
Hard money lenders exist because they are fast, and provide loans with little to no headaches. Hard money lenders have a fast application system. They anticipate collateral and do not look at your credit rating. They concentrate on your expertise, rather than your credit worthiness. In case you have a bad financial past, it’ll be easier to obtain financing by using a hard money loan as opposed to a conventional loan that’s granted based on your credit report. Below are situations where hard money lenders fill a void that conventional lenders don’t touch:

Atlantic City Hard money loans can be used for fix and flip property investors
Most traditional lenders will not offer you a loan for a fix and flip job. If the house is in poor condition, or there’s some other abnormality with the home, then a conventional lender won’t give you funding. In addition, most reverse and fix potential deals”go fast.” The seller is extremely motivated to sell the property, and will accept the first deal. Traditional lenders take forever, so by the time the loan is approved – you’ve already lost the property since someone paid cash for it. For those who have a hard money lender on your side who can close a loan in 5-10 days, you can get the fix and flip property.

Loans from private money lenders are great for people with bad credit
Most traditional lenders look at a potential borrowers credit report. They verify your income and explore past delinquencies. It means that someone with a checked credit score will have a challenging time, and in some cases never get approved. If this happens to you, your only choice is to use with a hard lender. While the rates of interest for a private loan are higher than traditional loans – if the deal makes sense, it may make sense to take the money.

Hard Money Loans can be used for Residential Real Estate Investment Properties
Hard money can potentially be used for various kinds of properties, which range from commercial properties to residential properties. Typically property investors who contact us are searching for a private money for single family home. Many do a fix and flip, or they are buying the property to expand their real estate empire and lease it out. Real estate investors that want to fix and flip normally find a property in terrible shape, purchase it below market value, rehab the property, and then resell it so as to create a profit. Most fix and flip properties are done in 6-9 months. Real estate investors who purchase rental properties with a long term plan, typically buy it and maintain it. Regardless of your purpose – we can give you funding. We finance all types of residential property investment properties. Many investors come to us because they want to create numerous sources of passive wealth. Some real estate investors use a hard money loan to purchase the investment property and then use a conventional loan to repay the hard money loan. Regardless of what your purpose is, we may provide you financing for your loan.

When it comes to mortgage lending, there is no one solution that fits everyone’s needs. Fortunately, there are alternatives for people who find themselves in need of a loan and unable to qualify for a conventional mortgage. If you are considering a real estate purchase, a hard money loan might work for you. The information below will shed light on this loan product.

What Is a Hard Money Loan?

A hard money loan is financing for the purchase of real estate and it’s made based on the value of your collateral, which is unlike traditional loans that focus on your ability to repay the loan. The lenders are private individuals and organizations that make decisions based on each case. Hard money lenders provide financing for different needs, but mostly for investment purposes.

There are various types of hard money loans, such as the bridge loan, which lets you buy a new property immediately, before you get the cash down payment from the sale of a property that you already own. A bridge loan is also for buying a property fast to resell or refinance it. Another example is the fix-and-flip loan, which is aptly named because it’s intended for buying a rehab property that you fix up, sell and pay the loan off. There’s also a construction loan for new construction projects, with the expectation that you will refinance or sell the property quickly.

Although less common, there’s the owner-occupied loan for consumers who don’t qualify for traditional bank loans. The reason some lenders do not fund consumer loans is because doing so requires compliance with more regulations. For instance, they would have to comply with Dodd-Frank regulations governing the debt-to-income ratio of borrowers. There are also more licensing requirements for lenders who provide consumer loans. In some states, most hard money lenders will not provide consumer loans, but there are some that will.

How Hard Money Loans Work

One of the things that makes hard money loans unique is the short loan period, which is often about 12 months. However, it is possible for the loan term to be for several years. The monthly payments for hard money loans are interest only instead of principal and interest, which makes them an attractive option, depending on your situation.

Every hard money lender will have their own set of requirements, but typically require you to put down cash based on either the Loan-To-Value (LTV) ratio or the After-Repair-Value (ARV) ratio. The loan will be paid off in a balloon payment, which includes the principal, interest and any fees required to zero out your balance.

Is a Hard Money Loan Right For You?

A hard money loan might be a good option for your situation because it could provide you with the financial resources that you need for a real estate investment. If you are unable to qualify for a traditional bank loan, a hard money loan is a good alternative. People who choose a hard money loan often do so because they can get the money quickly and there are fewer requirements. Hard money loans also have more flexible terms.

Some of the disadvantages associated with hard money loans include high interest rates, high fees and the short-term nature of the loan. You should also know that there is little oversight by the government for these loans. Additionally, they can be difficult to refinance because traditional mortgage lenders often require a certain amount of time, which they refer to as the “seasoning” period.

If you have other lending options, then you should consider them. If not, a hard money loan could work for you. This is especially true if you have a low credit score and need access to money right away.

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