Best Hard Money Lenders

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, we 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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We fund loans up to 80-90% LTV with no issues.

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Recently Funded Projects

Residential Refinance
Residential Refinance

Residential refinance in Los Angeles, with a loan amount of $830k, at 75% LTV. We were able to help the investor get a loan at 8.99% with a balloon payment after 18 months.

Raised
$830,000
APR
8.99 %
ARV
75%
100% Funded!
Residential Investment
Residential Investment

Delancey Street funded a new residential purchase in California, for $1.2 million with 82% LTV. We helped the developer with a loan at 11% with a balloon payment in 9 months.

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

Property in New York was torn down, and redeveloped. We provided a 60% LTV loan for $700k. We charged no upfront fees, and had a balloon payment after 10 months.

Raised
700,000
APR
9.0 %
ARV
60%
100% Funded!

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- Leo kovacz

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Best Hard Money Lenders

A hard money loan is the ideal funding option for real estate investors when conventional funding is not suitable for their deal. Many real estate investors prefer using hard money because they can get the capital fast. In many instances, a hard money loan can close within three to five business days.

Unlike banks and credit unions, hard money lenders focus on the value of the subject property. They are not interested in scrutinizing the investor’s credit score. The subject property is used as collateral for the short-term loan.

There are several advantages associated with getting a hard money loan. We will now take a close look at one of the most popular real estate financing options today. Let’s get things underway.

What is a Hard Money Loan?

It can be extremely difficult for you to get approved for a conventional real estate loan if the lender is not comfortable with your annual income and credit score. Traditional lenders are only interested in dealing with consumers that can show they are capable of repaying the loan on time. This is the primary reason why they have prospective borrowers fill out extensive paperwork. However, you can avoid this by pursuing a hard money loan.

A hard money loan is an asset-based loan or an equity-based loan. Funds for hard money loans typically come from a private investor or a group of private investors. Your personal credit score is not a big issue, and you will not be asked to fill out a stack of loan documents. The hard money lender will ask you to put up a large down payment. The significant down payment helps to lower the lender’s risk on the loan.

Hard money loans may not be for everyone, but they offer many advantages that are too hard to overlook. For example, it would make sense for you to get a hard money loan if your credit score is extremely low. Please keep in mind that a hard money loan comes with a higher interest rate and processing fees. Despite that, short-term funding will put you in position to buy residential and commercial real estate fast.

How do Hard Money Loans Work?

Hard money loans are designed for short-term situations. The borrower must repay the loan back within 6 to 24 months. This is fine for the investor because the interest rate for a hard money loan is much higher than the interest rate attached to conventional real estate funding. Hard money loans are suitable for any investor that would like to do more deals with less capital. At the end of the day, the investor gets the golden opportunity to get a greater return on their investment.

What Makes Hard Money Loans Unique?

Novice investors learn that hard money or private money is a better alternative to traditional real estate financing. Why deal with the bank’s strict lending requirements when you can get capital from a private lender with softer lending requirements? It doesn’t take a rocket scientist to see that short-term loans can help you become a successful real estate investor.

Here are three distinct advantages of getting hard money:

Faster Closing – If you are approved, you will not have to wait 30 to 60 days to get the funds for your deal. As we stated earlier, your loan proceeds can be disbursed within several days.

Softer Terms – A hard money lender will not make you jump through hoops. The terms are simple and flexible. The subject property will be the main focus. Things should go well if the property does not raise any red flags.

Flexible Payment Schedules – Traditional lenders must follow strict guidelines. In most cases, they are unable to make changes to the repayment schedule. However, hard money lenders can make changes to the repayment schedule with ease.

How Can You Get a Hard Money Loan?

Submit your information to the hard money lender after you have a property at hand. The loan process will begin after the lender gets your information.

It’s Simple

  • 1 Tell us what you need
  • 2 We'll evaluate it
  • 3 We'll offer our terms

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