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

Columbia-South Carolina Hard Money Loans

Understanding Hard Money Loans – Columbia-South Carolina

If you’re a real estate investor or developer, then you are probably aware of the challenges associated with traditional mortgage lending – it doesn’t always work out as planned. Hard money loans are often a good option when a loan is not approved by a traditional lender or when real estate investors and developers need money fast. Keep reading to learn more about hard money loans, including how they work and whether they are right for you.

About Hard Money Loans

The value of your property is the basis of hard money loans. Instead of assessing your ability to pay back the loan, hard money lenders look at the value of your collateral. Not that your financial standing isn’t important, it just isn’t as significant to hard money lenders since there is collateral involved. This is a different method of financing than what you’ll find with traditional mortgage lenders. Hard money lenders are individual investors and firms that make decisions based on the merit of each application.

Hard money lenders don’t necessarily follow strict standards like traditional mortgage lenders, they are more willing to consider your unique situation. Some of the common hard money loans are the construction loan, bridge loan and fix-and-flip loan. There’s also the less common owner-occupied loan for consumers who are unable to get a traditional mortgage. Most hard money lenders won’t fund consumer loans because of the regulations involved, but there are some who will.

Bridge loans are for the purpose of buying a property that you quickly resell or refinance. You can also use a bridge loan to buy a property before you have the cash down payment from the sale of a property that you already own. Fix-and-flip loans let you buy a fixer-upper, make the repairs and resell it, then pay the loan off. Construction loans are for real estate developers to start a new project, then refinance or sell it right away.

A Closer Look at Hard Money Loans

Hard money loans can be appealing for several reasons. For starters, the application process is fast and can sometimes take less than a week. It’s also a very streamlined process that is just the opposite of the cumbersome traditional mortgage lending process. Fast funding is an undeniable perk to real estate investors.

You will likely need a cash down payment for a hard money loan that will be dependent upon your property’s Loan-To-Value (LTV) ratio or After-Repair-Value (ARV) ratio. The payment terms of hard money loans are also different than traditional loans because they are often monthly interest only, instead of monthly principal and interest payments. When it’s time to pay off the loan, you will do so in a balloon payment that covers the entire principal, all remaining interests and any fees.

Is a Hard Money Loan a Good Solution?

You might be wondering about the downsides of hard money loans. Frankly, hard money loans have high interest rates that can reach the double digits, there are often a lot of fees, they have extremely short terms and there is a lack of government oversight. There is also a chance that you could experience problems with refinancing since traditional mortgage lenders require a seasoning period, which means you will have to wait a period of time in order to refinance the loan.

Many real estate investors find that the pros outweigh the cons of hard money loans. Fast money, relaxed requirements and flexible terms can allow you to stay in the game and take advantage of investment opportunities that arise. If you have another option that will satisfy your mortgage needs, then it makes sense to use it, especially if it’s cheaper. If not, a hard money loan might be the solution you’re seeking.

Business owners with growing companies come to a time when they may need to expand their business to succeed. There are some business owners who want to own their own office space as opposed to renting, and there are others who want to renovate their office building.

While expanding a business in South Carolina can lead to lucrative benefits down the road, it is a costly process. Commercial construction projects can take thousands to million of dollars to complete. Many business owners do not have the assets to pay out of pocket to complete a commercial construction or renovation project. Business owners in these situations may want to consider a commercial construction loan.

What is a South Carolina Commercial Construction Loan?
A commercial construction loan is used to pay for the costs that are associated with the renovation or construction of a building. Funds from a commercial construction loan can be used to pay for materials, labor, and the cost to purchase the land for a new building.

While commercial mortgages are designed for business owners who want to purchase existing properties, commercial construction loans are for business owners who want to construct a new building or renovate their current office space. A commercial construction loan can ease the burden of having to pay for the costs of the construction project out of pocket.

How Commercial Construction Loans Differ From Traditional Loans
A commercial construction loan in South Carolina differs from a traditional loan in several ways. With traditional loans, the funds are disbursed in one sum. After the loan has been issued to the borrower, he or she is responsible for paying the amount of the loan. Most loans have terms include a monthly payment over a period of at least 10 years.

Commercial construction loans do not issue the full amount at once. With commercial construction loans, the borrower is issued partial payment at certain periods in the project. When you take out a commercial construction loan, you will work with a lender to establish a draw schedule. A draw schedule determines how often the funds will be disbursed and typically takes place after a project milestone. For example, the first draw of a commercial construction loan may be to purchase the land for a new building, and the second draw could be after the foundation has been poured. Before the draw funds are released, many lenders send an inspector to confirm that the work has been completed. This process will continue until the construction/renovation project is finished.

What Happens Next?
After the construction or renovation project has been finished, borrowers have the option to pay the principle balance in one sum. However, business owners who don’t want to pay the full amount at once may have the option to take out a commercial mortgage. A commercial mortgage will use the property as collateral and allows the borrower to pay back the commercial construction loan with the funds that were received through the commercial mortgage. This lets borrowers make fixed monthly payments over a set period of time.

How to Prepare for a Commercial Construction Loan?
To prepare for a commercial business loan in South Carolina, you should have a business plan that shows lenders each step in the construction project. You should also include the cost of materials, labor, and other items. When you are applying for a commercial construction loan in South Carolina, lenders will look at your credit and your debt-to-income ratio. Business owners with good credit will have lower interest rates for commercial construction loans.

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