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

Elgin-Illinois Hard Money Loans

Understanding Hard Money Loans – Elgin-Illinois
Qualifying for a traditional mortgage loan is great, but not always possible. Fortunately, real estate investors can look to hard money loans as an alternative solution when things don’t quite go as planned. In fact, many people appreciate hard money loans because they are fast and easy. There’s a lot to know about this asset-based loan product. Here’s a breakdown of the facts.

About Hard Money Loans

Instead of your ability to repay, hard money loans are made based on the value of your property because it serves as collateral. While your financial standing isn’t altogether insignificant, it’s far less important to hard money lenders than it is to traditional mortgage lenders. Hard money lenders take a different approach during the lending process too. They tend to look at each individual situation as opposed to simply following a template of requirements.

Real estate investors have a wide range of needs when it comes to loan products. Some of the common types of hard money loans are construction, bridge, fix-and-flip and owner-occupied. Real estate developers have the benefit of a construction loan that can be used to start a new construction project and either quickly sell it or refinance. A bridge loan lets you buy a property and then refinance or resell it. With a bridge loan, you can also buy a new property before you get the cash down payment from the sale of a property in your portfolio. A fix-and-flip loan is for buying, fixing and then flipping a property, at which point you will pay off the loan.

Unlike the other products mentioned, there is an owner-occupied loan that’s uncommon and only a small percentage of hard money lenders offer them. It’s because owner-occupied consumer loans are highly regulated and complicated. However, there is still a chance that you can find a hard money lender that offers this product to individuals who plan to live in the property, but are unable to secure a traditional mortgage.

How Hard Money Loans Work

One of the biggest benefits of hard money loans is the easy application process that is free of hassle and boasts a turnaround time of just days. That’s definitely a perk to real estate investors. You are generally required to have a cash down payment that depends on your property’s Loan-To-Value (LTV) ratio or After-Repair-Value (ARV) ratio.

The term for hard money loans is just a few years, but typically one year. Instead of making the usual principal and interest monthly payments, there’s a chance that you will only need to make monthly interest payments. There’s also a chance that you won’t have to make any payments until the maturity date, at which point you will make a balloon payment. The balloon payment includes the principal, any remaining interest and all fees.

Is a Hard Money Loan Right for You?

When it comes to the benefits of hard money loans, it’s clear. They offer quick money, relaxed requirements and flexible terms. Specifically, you could apply for a loan and receive funding in less than a week. There’s a chance that your loan could be approved with low credit scores and other issues. The bottom line is that you will have access to financial resources, which can increase your investment portfolio.

On the opposite end of the spectrum are the aspects of hard money loans that require due diligence in making a decision. Simply put, the interest rates are high, there are often a lot of fees, and the terms are short. Due to the minimal government oversight, you’ll need to be cautious about choosing a lender. You might also have an issue with refinancing before the “seasoning” period required by traditional lenders. Nevertheless, when all of the pros and cons are weighed, many investors decide that hard money loans are a valuable tool.

Delancey Street is here for you

Our team is available always to help you. Regardless of whether you need advice, or just want to run a scenario by us. We take pride in the fact our team loves working with our clients - and truly cares about their financial and mental wellbeing.

"Super fast, and super courteous, Delancey Street is amazing"
Leo
$125,000 Small Business Loan
"Thanks for funding me in literally 24 hours"
Jason
$35,000 Lawsuit Advance
"Great choice for first time fix and flippers"
Mary
$250,000 Hard money Loan

In The Media

Delancey Street CEO discusses ways to reward employees
Delancey Street CEO discusses the benefits of franchising on Forbes.
Delancey Street CEO discusses management on AMEX.
WHAT ARE Asset-Based Loans?

What is an asset based loan? An asset-based business line…

101 Things you need to know before you apply for an SBA loan

101 Things you need to know before you apply for…

ESOP

ESOP – employee stock ownership plan, is a qualified employee…

Financing Small Businesses: How It Helps The Entire Community

Small business financing is a great thing, but many people…

Here’s Every Document You’ll Need to take a Small Business Loan

Documentation and paperwork is the single largest obstacle to most…

Delancey Street understands funding like no one else!
Steven Norris
Get Funding Today

Ready To Get Started?

If you have questions, feel free to shoot us an email, or fill out our live chat.

Apply Now