Hard Money Loans Bronx

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

1

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

3

No $ Limit

No limits on what we can do for you.

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.

Jason

Founding Partner (Cut and Stitch)
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...

Steven Goldman

Founding Partner (Goldman & Associates
Chicago Lawyer)

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

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

We’re here to answer your
questions. Contact us anytime:

Minimum Qualifications Requirements

Delancey Street’s team consists of builders, developers, hard money lenders, and entrepreneurs. We understand your project has unique needs, and not every project is going to be easy and be ideal. These are general guidelines which should be interpreted as a suggestion, rather than mandatory.

At the end of the day, we look at you – just as much as the quality of the deal and the qualifications.

  • Risk Free. No Application Fees.
  • Decisions Within 48 Hours.

Hard Money Loan Guidelines

Speed We close within 24-48 hours
Paperwork Not much
Qualification Project and LTV matter. We don’t care about your credit.
Maximum LTV 80-90%
Loan Terms 12-48 Months

It’s Simple

  • 1 Tell us your financial request
  • 2 We consult & provide terms
  • 3 We finalize the transaction

Get pre-qualified

  • Looking to purchase a property
  • No obligation and no effect on y
Get pre-qualified today

Hard Money Loans Bronx

What is a Hard Money Loan?
A hard money loan is often used to purchase real estate. The loan is available from a lender known as a hard money lender. You must secure the loan with real estate that you own or are purchasing. In most cases, a traditional loan is what most people would choose to purchase real estate. But there are situations in which a hard money loan is worth considering.
When to Consider a Bronx Hard Money Loan
A hard money loan is an alternative to a traditional loan. Perhaps you need to act quickly on a time-sensitive deal. It usually takes less than a week to get approved for a hard money loan in Bronx. If time is an issue, then a Bronx hard money lender is possibly the better option.
You can also consider this loan when a traditional lender refuses your application. Maybe it’s because you’ve got bad credit or a sketchy work history. A Bronx hard money lender is less concerned with these issues. The value of the collateral property carries the most influence.
How you plan to use the property is of importance as well. You’ll need to present the lender with your plan to repay the loan. You could renovate and resell the property. You’d then use part of the profits to repay the loan. If you’re able, you could also obtain traditional financing to repay the loan.
Another consideration is the down payment. With a traditional loan, a lender might require you to have a 20% to 25% down payment. But with a hard money lender, it might be possible to get a loan by putting zero down.
Types of Properties Hard Money Lenders Can Help With
You can use a hard money loan for several types of property. Commercial property, vacant land, residential homes, and industrial buildings are only a few examples. But it’s important to know if the lender you’re speaking to only deals with a specific type of property. In most cases, the lender will have a specialty. For instance, the lender might provide loans exclusively for commercial property.
Most hard money lenders refuse to accept owner-occupied homes as collateral. Owner-occupied homes require that the lender follow a certain set of regulations and rules. The process is more complicated and usually unattractive to many Bronx hard money. If you’re using owner-occupied property as collateral it’ll be significantly harder to get a hard money loan. The Dodd-Frank act makes it difficult for hard money lenders to lend on owner-occupied properties.
[loan_form_link]
Interest Rates
The interest depends on the lender. Just like with a traditional loan, you’ll find that not all lenders offer the same rates. Your location plays a role as well. A location with several hard money lenders will usually have lower rates. This is because lenders are in competition for your business. But a location that has little competition will usually result in higher interest rates.
No matter your location, interest will be on the high side. You can generally expect to pay between 10% to 15% interest, sometimes more. Hard money interest rates are higher because the lender is accepting more risk than a bank or credit union.
Locating a Lender
Finding a hard money lender takes some work. It’s not as easy as walking into a well-known bank or credit union. The best place to start is with friends and family. They could possibly have recommendations.
Searching online is also a good way to locate lenders in your area. Evaluate each lender, and then decide which ones to contact. Check for reviews and other information about the lender.
Your local real estate investor club is another option. Hard money lenders are known to attend club meetings for networking purposes. You can use the opportunity to speak with several lenders. If there aren’t any lenders, then you can still network with the attendees. Other real estate professionals, such as mortgage brokers and real estate agents, can provide useful information.
Risk of Foreclosure
A hard money lender has the same rights as a bank or mortgage lender. In other words, the lender can foreclose on your property. The lender will likely have a first mortgage. That means in the event of a foreclosure, the lender will have a priority claim over the proceeds. But if the proceeds aren’t enough to cover the lender’s investment, then the lender can possibly sue for the remainder. The laws of the state determine if the lender has a right to sue.
The conditions for foreclosure are set by the lender. These conditions may or may not be anything like you’d have with a bank. For instance, you might have to maintain a specific property value. If the value falls, then it could result in foreclosure. The lender could even set a requirement about how to maintain the grounds.
There’s much more to know about obtaining a hard money loan. Do your research to see if this loan is right for you.
 

Hard Money Loans

Need funding for your next project?

Complete Our Application