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.


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

Chicago Hard Money Loans

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Chicago Hard Money Loans

Individuals involved in property and real estate use hard money loans when standard bank loans types are not an option. The reason why the loan is considered a “hard” loan is because your real estate is used as an asset.

The amount of a hard loan is determined almost entirely on your assets. Standard bank loans often want borrowers to have a certain credit score and income to qualify. Your ability to pay back the loan is a traditional bank’s number one concern. Also, not all standard loans are easy to obtain simply because of your finances and a 700+ credit score. The process can still drag on and take several weeks for final approval. Hard loans rely upon a different process. Lenders place far more emphasis on collateral.

While hard loans are not the choice of all borrowers, there are times when they fit the goal you are trying to accomplish. For instance, if you are involved in flipping houses, a hard loan may be exactly what you need. If you are a house-flipping novice and lack the capital to put upfront, a hard money loan from Chicago hard money lender makes good sense. You can get a loan for a house, remodel it, and sell it for a profit.

Why Use Hard Money Loans?

Hard money loans are used for the short term. This means between 6 and 24 months. If you are a real estate investor, you would want the loan to be a short as possible because of the high interest rates. Another benefit of a hard loan is how quick you can close. Additionally, hard money loans are a good way to purchase many properties with less upfront capital. This translates to greater returns.

Difference Between Hard Loans And Standard Loans

These loans are different in many ways. Hard money loans offer greater leverage and the ability to close quickly. Other notable differences:

    • Speed – Hard money companies — unlike traditional banks — are less concerned with the applicant’s financial standing. This allows the process to move much quicker. As long as the property has no red flags, closing could take place in days as opposed to weeks.
  • Repayment schedules that can be adjusted – In most cases, traditional lenders have an inflexible underwriting process. Because hard money lenders are excluded from some banking regulations, the guidelines are a bit different. The company has the authority to tweak payment schedules and more.
  • Approval time – The loan amount you get is contingent on how much the property is worth. One of the various Chicago hard money loan programs that are flexible for all borrowers.

When comparing standard bank loans and hard loans side by side, individuals can make an informed decision regarding the pros and cons of both.
Other Types Of Hard Money Loans
Bridge Loan – This loan, also known as a “swing loan,” is meant to be used in the short term. The loan allows the borrower to leverage equity in real estate they already own. This loan is ideal for investors who have multiple properties.
Construction Loan – This type of hard money loan is used to finance construction projects. These loans can run from 6 to 24 months.
Acquisition Loan – With this loan, the borrower can use the financing for purchasing or acquiring a property. As long as the loan is earmarked specifically for the property, it can be used for any type of residential improvement.
If you are interested in real estate investing, speak with a Chicago hard money lender. Submit your information and let them do the rest. Give them a call today.

If you are a property developer and you are looking for funds to finance your next project, the first thing that comes to your mind is a mortgage. However, there are times when you may not qualify for this type of borrowing. For instance, you may be still paying another mortgage, and therefore, you hardly can be eligible for another. If you are in such a situation, do not fret because you can always apply for Chicago hard money loans. Here are some facts that you should know about this kind of borrowing.

Hard money loans explained
As the name indicates, this is a loan given against a hard asset. The hard asset is a property that acts as collateral and therefore, you will have to ensure that it is worth the cost of the loan. Usually, the lending company will come to value the property before approving any loans. However, you also need to know that they will be looking for the history of that property to be sure that there are no red flags. For instance, if there are disputes attached to it, it will not be acceptable. When everything is clear, you will get your money just a few days after submitting your application, and you can go ahead to get that property that you have wanted for so long.

How to qualify for these loans
Hard money loans are easy to qualify. To start with, you may want to check your credit score, but it is not the most important thing here. Some companies will give you the loan without stopping to check your credit history or annual earnings. The most important thing for them is the property that is being fronted as collateral. They will want to know its value and its future. After that, they will want to know your personal information and that is all. To avoid delaying approval, make sure that you submit accurate information about yourself and the property.

Why they are so popular

Chicago hard money loans are popular because of the ease of application and fast approval. The fact that you will have the money in your account just a few days after approval means that your projects will not stall just because you are waiting for the money. To make them even better, the application process is a short one. They will not be looking for too many things beyond the collateral and do; they will not be asking for too much. However, you should know that they are issued for the short-term meaning that you will have to pay the entire amount within 6-24 months. For a property investor, this is a good thing because it means that once you have constructed and sold the property, you can pay your loan gets a profit, and move to the next deal. Another reason they are short term is that they have a higher interest rate compared to other loans, and no knowledgeable investor will want to pay high rates for long.

How to apply for hard money loans
The application process starts by identifying the deficit that you have in your budget. This deficit can only be calculated when you know the cost of the property that you want to acquire, and the amount you have at your disposal. After that, you need to identify one of the properties that are likely to meet that value. The next step will be the identification of a lender who has the best conditions. When choosing a property to present as collateral, make sure that its value is above the amount you wish to borrow because they will value it before approving the loan. Before you submit your application, make sure that it has the right information so that it will not be turned down.

If you are wondering where you can find the best Chicago hard money loans, there are various options. You can search for lenders on or offline depending on what suits you bet. Your task should be to find the one that will give you the best offer because when you compare, you will notice that their loans come in different types. Things such as interest rates, repayment period, and other terms and conditions should be well explained because they will affect the way you repay the loan.

Understanding Hard Money Loans

While it would be great if traditional mortgage lending was predictable, that’s just not the case. There are times when loans are not approved and people need another solution. Many real estate investors rely on hard money loans when that happens. In fact, some have come to appreciate the simplicity and speed of this alternative. If you have wondered about hard money loans, keep reading for more insights.

Hard Money Loans

Hard money loans are an asset-based real estate loan that considers the value of your property as collateral, instead of your ability to pay. While your ability to pay back the loan is important, hard money lenders are more interested in the collateral. This is starkly different from traditional mortgage lenders that make lending decisions primarily based on your credit scores and income.

Hard money lenders are individual investors and investment firms that also weigh applications individually without the strict guidelines of traditional mortgage lenders. In fact, they are often willing to overlook bankruptcies and foreclosures. There are different kinds of hard money loans, such as construction, bridge, fix-and-flip and owner-occupied.

The owner-occupied loan is less common because hard money lenders tend to avoid the extensive regulations associated with owner-occupied consumer loans, such as Dodd-Frank and certain licensing requirements. These loans are for the purpose of consumers purchasing a property where they intend to live. Since it’s been reported that 10 percent of hard money lenders offer owner-occupied consumer loans, there is still a chance that you can find a loan that fits your needs.

A construction hard money loan is for real estate developers who want to start a new construction project, then refinance or sell it. Fix-and-flip loans are for buying, fixing up and then selling a property as soon as possible, at which point you will pay the loan off. A bridge loan enables you to buy a property fast, then resell or refinance it. You can also use this loan to buy a property before you get the cash down payment from another property that you own.

A Closer Look at Hard Money Loans

You will probably need a cash down payment for a hard money loan and the amount is based on the property’s Loan-To-Value (LTV) or After-Repair-Value (ARV) ratio. The application process is streamlined and the turnaround time is fast. You can sometimes apply and have a loan funded within a week. Hard money loans are for a short term. Generally speaking, the term is from one to several years. As opposed to making principal and interest payments each month, you may only be required to make monthly interest payments. There’s even a possibility that you won’t have to make any payments until the end of the term when the balloon payment is due. This final payment will include the principal, all remaining interest and all fees.

Is a Hard Money Loan Right for You?

There are downsides to hard money loans that should be considered. Hard money loans have high interest rates that can reach the double digits and there are often a lot of fees involved, such as origination, underwriting and construction draw fees. Hard money loans are for a very short term and there’s a chance that you might have a hard time refinancing because of the “seasoning” period that requires you to have the loan for a certain period of time.

Most people who use hard money loans do so because they have low credit scores, need money right away or are unable to get funding from a cheaper source. Many real estate investors have come to appreciate having access to money when they need it. They also enjoy the fast application process, flexible terms and relaxed requirements. Hard money loans allow people to invest in properties when they otherwise would not be able to. Sometimes, that’s the bottom line.


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