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

Aurora-Illinois Hard Money Loans

In real estate, hard money loans are used to facilitate property purchases. While investors have multiple options when it comes to funding, those that choose to use hard money loans do so for the flexibility that comes with having access to quick cash.

Hard Loan FAQ’s

If you are new to hard loans, it’s important to understand every aspect of the application process, as well as what is required of your during the repayment period. The following are the most commonly asked questions regarding hard money loans:

Are loans for a primary residence paid back in one balloon payment?

No. Loans that are made to consumers must adhere to different regulations, according to the Dodd-Frank Act. These regulations ban lenders from requiring balloon payments.

For primary residences, lenders typically write a 30-year mortgage requiring equal payments on a monthly basis that go towards principal and interest, as opposed to interest-only payments with the large balloon payment at the end. Borrowers must note that even with a 30-year mortgage, the interest rates will still be exceedingly high if the loan isn’t refinanced.

Why do hard loans have high interest rates?

Lenders in Aurora, Illinois take on a lot of risk when they make a hard money loan. This is due to the fact that they don’t have a guarantee that the loan will be repaid through income. If a borrower defaults on the loan, a lender will foreclosure on the property, but that is still a risk in itself.

Additionally, hard money lenders require high interest rates because they can. If borrowers are willing to agree to high interest rates, this is of benefit to the lender.

How should I pay off a large balloon payment?

Before accepting a hard money loan, borrowers need to have a clear idea of how they expect to pay it off. If a balloon payment is required, most lenders aren’t expecting that any one individual will be able to pay it off when it is due. Borrowers are expected to have a payment plan in place.

Depending on the lender, borrowers can choose to extend their loan (for another price). Most borrowers aim to sell their property or have the loan refinanced with a traditional mortgage. Without an adequate refinancing program in place, it isn’t wise for an investor to take out a hard money loan.

What happens if I can’t make the balloon payment?

If a borrower realizes they won’t be able to make their balloon payment, they need to get in contact with the lender as soon as possible. Some lenders may be understanding of the situation and will be able to work out a new payment option for you. However, due to the fact that you consented to pay your loan when the lender made the loan agreement, they are within their legal right to foreclose on your property if they choose to do so.

What happens if I become a victim to a predatory hard money lender?

If you realize you are working with a corrupt lender, you must file a complaint through the Consumer Financial Protection Bureau. You should also create a complaint with the consumer protection agency for your state.

If you are under the impression that the terms of the loan are illegal, you should contact a lawyer that specializes in real estate. They will be better able to determine whether or not you have a case.

What types of real estate should I purchase with hard money loans?

Hard money lenders are often willing to lend money for all kinds of property. This includes multi family and single-residences, as well as land and commercial property.

To make sure hard money loans work in your favor, you need to know as much as possible about the loan. As you search for the right lender, be sure to ask them these common questions to help determine if a hard money loan is right for you.

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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