McKinney-Texas Hard Money Loans

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

McKinney-Texas Hard Money Loans

McKinney–Texas
As experienced real estate investors know, not everyone qualifies for a standard mortgage. Whether this is due to having bad credit, bankruptcies, or foreclosures, not qualifying for a mortgage can make it difficult to obtain property. Rather than let this happen and have a great deal slip away, many investors instead decide to use a hard money loan to make their purchase. While still considered a real estate loan, a hard money loan differs in many ways that can be very significant to an investor. If you are in need of an immediate source of financing, here are some of the most important facts regarding hard money loans.

How Can Hard Money Loans Be Used?
For a real estate investor, a hard money loan can be used for virtually any type of project. In many cases, investors who specialize in purchasing fix-and-flip properties use these loans to quickly buy properties, make the necessary repairs, and then sell them for a profit. In other cases, investors may purchase an existing building or piece of land and then begin a construction project they hope will yield significant profits. Because of this, investors like these loans due to their flexibility, which can allow them to approach a lender with various ideas for the loan.

Details of a Hard Money Loan
If pursuing a hard money loan, investors need to become familiar with some of the details that make these loans so different from a mortgage. To begin with, the collateral used for the loan will be the property being purchased, which eliminates the need for the lender to check the investor’s ability to repay the loan. Along with this, the payback period for this loan will probably be no more than 12 months, making it imperative the property bought by the investor be sold within this period of time. If it is not, they risk foreclosure from the lender, or at the least having to refinance or extend the loan at higher interest rates. Finally, since these loans have few regulations, the lender can charge numerous fees such as for underwriting and origination, and can also add fees to penalize the investor if they want to pay off the loan earlier than the stated deadline.

Balloon Payment
With a hard money loan, the final payment will be a balloon payment, and it often proves to be rather large. Since the previous payments will have been interest-only payments, the balloon payment will include remaining interest plus any principal, fees, and interest that remain. If this is not factored into an investor’s financial planning for the property, they may find themselves unable to meet this final payment.

Will I Need a Down Payment?
In almost all situations where a hard money loan is granted to an investor, a down payment will still be needed to complete the purchase of the property. Since the lender will examine the property’s loan-to-value ratio to determine how much they are willing to loan, it is recommended investors be prepared to have a down payment of as much as 20% of the property’s value. Thus, for a $100,000 property upon which a lender gives a loan of $80,000, the investor will need to have immediate access to $20,000.

Are All Lenders Reputable?
While virtually all hard money loan lenders are reputable private individuals and institutions, there are still some instances where loan sharks attempt to masquerade as reputable hard money loan lenders. Thus, if an investor attempts to do business with a lender who has little if any paperwork, charges extremely high interest rates, is not licensed by the state’s real estate board, and uses direct or indirect threats of violence or retribution if payments are not made on time, immediately look elsewhere for funding.

Hard Money Loans

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