Hard Money Loans Cleveland

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.

Leo kovacz

Founding Partner (Zooomr Car Leasing)
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 Cleveland

The perfect property just hit the market at a price that’s much lower than market value. It needs some work, but it could sell for four times the asking price with some upgrades. It’s the perfect investment property to flip and sell for a quick and tidy profit. The only problem is you don’t have the cash to pay for the property without a loan, and you don’t have the time to wait on a loan. This is where a hard money loan might help you out of your current predicament.
What is A Hard Money Loan?
A hard money loan is often the answer to your financial problems if you are an investor looking to flip a property. It is not, however, a traditional mortgage. It’s a loan you borrow for a short period of time, but you also have cash in hand in a matter of days rather than the weeks or months it takes to secure traditional financing. Hard money loans are not loans offered by traditional means. They don’t come from banks and other lending institutions. They come from other investors and sometimes from individuals looking to make a quick return on their own money.
What Do I Need To Get A Hard Money Loan?
The requirements to obtain a traditional mortgage are specific, and they vary greatly depending on the type of mortgage you want to secure. The common theme in any mortgage, however, is the time it takes to secure one. Lenders want borrowers with great credit, income they can easily prove, and they want form after form and signature after signature.
A hard money loan is not that difficult to acquire. A great credit score and perfect credit history are less important than the property you want to purchase. All the lender really wants from you for a hard money loan is proof that the property is more valuable than the money you’re borrowing. The lender in this situation isn’t foreclosing in the same manner as a lender who issues a traditional mortgage. A hard money lender immediately gets your property and has the ability to sell it back right away. The rules are strict, but the financing situation is much simpler.
Your personal financial history matters less to a hard money lender than the value of the property you’re using as collateral. Your ability to repay this loan is important to the lender, but it’s not as important as the value of the collateral if you cannot.
The Pros and Cons of Hard Money Loans
The biggest pro of a hard money loan is how easy it is to get. You don’t have to fill out as much paperwork and wait weeks or months to get your financing. You get it in days, and you get to start on your project right away. Furthermore, if you have a questionable credit history, it’s not going to matter as much with a hard money loan. Your chance of being approved for this loan with negative credit report marks is much higher. Another pro is the repayment schedule. You can work out something that works specifically for you and your financial situation, which is not what many lending institutions are willing to for borrowers.
The cons of hard money loans include the cost. They are significantly more expensive than traditional loans, and that’s why you must be confident you can flip and sell this property quickly. The faster you can pay off this loan the more money you save. The other big con associated with a hard money loan is that you cannot borrow it to fix up and flip a home that’s occupied by you. However, you can use it to fix and flip just about any other property as long as you don’t live in it.
If you have the ability to repay a loan in six to 24 months at a high-interest rate, you should apply for a hard money loan. It’s your chance to get the funds you need to flip a property with a big return on your investment. However, if you cannot do the work and have no idea what you’re doing, this might not be the best option for you when you’re just starting out.

Hard Money Loans

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