Mobile-Alabama 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

Mobile-Alabama Hard Money Loans

Understanding Hard Money Loans – Mobile-Alabama
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.

About 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.

Hard Money Loans

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