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

Hard Money Loans Montana

What differentiates Montana hard money lenders from traditional lenders?

The critical difference between traditional lenders and  hard money lenders is the fact hard money lenders are asset based lenders. They focus on the asset associated with the loan. In contrast, traditional banks focus on credit and how much cash the borrower has. It is super important to remember hard money loans aren’t good for the long run. The purpose of a hard money loan is to be a short term loan that gets you the real estate you’re trying to acquisition. Hard money lenders focus on 6-24 month termloans that reap a significant ROI. If you fail to repay the loan, then the company you borrowed from can take possession of your property in order to repay his/her loan.

When’s a good time to consider getting a hard money loan

Private money loans serve as investment tools by investors. They are useful in a few situations, such as:
Unable to find financing elsewhere. Funding real estate investments is complicated. Traditional mortgages are difficult to acquire under normal situations. Banks are extremely cautious of making loans for purposes of real estate investments, as opposed to loans for primary residences. Because of this, if you’re looking for investment funds – then get a hard money loan.
You’ve got a poor credit. Hard money loans are based off the collateral of the investment, not your ability to repay. Loans made to consumers – as opposed to private money lenders – are based off your ability to repay the loan. This means in case you have a poor credit history or no stable income – then you might not get approved for financing. You need money. Hard money loans are great so you can get money ASAP. Traditional loans take time. Hard money is very fast. If you need to capitalize on an opportunity immediately, then you can find a hard money loan. If you can wait several weeks, then it’s far better to get a hard money loan.

Hard money lenders can help finance your next deal

Hard money lenders assist a very specific group of individuals, i.e. real estate investors. Hard money lending is a type of bridge term financing, which is secured by real estate. Specifically, the men and women who use hard money loans are typically property investors – typically, people who are being denied a conventional loan as a result of stringent guidelines.
Hard money lenders exist because they are fast, and provide loans with little to no headaches. Hard money lenders have a smooth application system. They expect collateral and don’t look at your credit score. They focus on your expertise, as opposed to your credit worthiness. If you’ve got a bad financial history, it’ll be easier to obtain financing by using a hard money loan as opposed to a conventional loan which is granted based on your credit report. Below are scenarios where hard money lenders fill a void that conventional lenders don’t touch:

Montana Hard money loans can be used for fix and flip property investors

Most traditional lenders won’t offer you a loan to get a fix and flip project. If the home is in bad condition, or there’s some other abnormality with the home, then a conventional lender won’t give you funding. Additionally, most reverse and fix potential deals”go quickly.” The seller is extremely motivated to sell the property, and will accept the first deal. Traditional lenders take forever, so by the time the loan is approved – you’ve already lost the property because someone paid cash for it. For those who have a hard money lender on your side who will close a loan in 5-10 days, you can find the fix and flip property.

Hard money loans are essentially bridge loans

From time to time, your job goes over-budget and because of this you need additional funding. Some traditional lenders will deny, because the project isn’t finished. Though this can be catastrophic, a hard money lender might be willing to lend you the money. Hard money lenders are happy to provide money to bridge the gap in funding, and can work with you to fill this void.

Hard money gives you leverage

If you’re a real estate agent, more funding means more deals. By using outside hard money, you can focus on more simultaneous deals that would otherwise not be possible. Conventional lenders consider your entire debt to income ratio, and will not give you a loan if they believe you owe too much money. In contrast, a hard money lender does not care about your income, nor do they care about your outstanding financial obligations. The only thing a hard money lender will fixate on is the value of your property. Hard money loans are great for developers who need funds to get their project started but are not a fantastic fit for conventional lenders. Keep in mind, traditional lenders are not interested in taking on additional risks – they legally are not allowed to following the 2008 economic crisis. Hard money loans typically finalize faster than traditional loans from a bank, which permits you to move quicker. Many property sellers will be flexible on their cost and willing to cut you some slack – if you can show you have funds available. Many property investors that rely on conventional lenders cannot move fast because of delays due to the strict guidelines conventional lenders have. Speed and unlimited money, is why hard money is great.

Montana New Construction Loans

New construction loans for businesses in Montana are usually funded by a commercial construction loan. There are several types of commercial construction loans and different types of lenders. The construction process is lengthy and usually incorporates a commercial construction loan and a commercial mortgage to pay off the construction loan.

Commercial Construction Loan vs. Commercial Mortgage

Characteristics of a Commercial Construction Loan:

  • Short terms
  • Lengthy application process
  • Disbursed on a draw schedule
  • Draws are released after an inspection of the milestone
  • Payments tend to be on interest until last payment is disbursed

Characteristics of a Commercial Mortgage Loan:

  • long-term loan
  • bulk sum used to pay for existing property
  • low interest and monthly payments

Interest rates and fees for a commercial construction loan are determined by the lender and the type of lender or loan. Some fees for a commercial construction loan are documentation fees, guarantee fees, project review fees, fund control fees, and processing fees.

The requirements for a commercial construction loan include a down payment of 10% to 30%. Credit scores and financial documents are needed for review. Most lenders want to see the borrower have a debt to income ratio under 43%. Lenders may have stricter policies on the debt to income ratio and credit scores below 700. A lender will also review industry experience and construction plans. When the lender agrees to lend the funds, a draw schedule is made with the borrower.

Types of Commercial Loans for Your Business in Montana

The Small Business Administration offers two types of loans to businesses that want new construction to expand. The CDC/504 loan is for 10 to 20 years and has a fixed interest rate based on the US Treasury rates. Anyone that owns over 20% of the business needs to make a guarantee. The maximum amount for this loan is five million. The 7(a) Program has a term of up to 25 years. This program is used for buying an existing property or construction for a business. The most loaned to a borrower with the 7(a) Program is also five million.

A bank loan is a traditional commercial construction loan. The interest rates and fees are determined by the lender and the review of your application. A commercial mortgage is usually used to pay the construction loan at the end of the construction project. This gives the borrower the ability to have lower monthly payments over a longer period.

If a borrower needs a loan to meet the down payment requirements, a mezzanine loan has lower qualifications and helps bridge the funding gap. The interest rates higher than a traditional loan and if the borrower defaults the lender gets equity in the business.

Hard money loans are short-term loans that are easy to qualify for when one wants a short-term construction loan. These loans have a higher interest rate but usually, have a shorter application process.

Applying for a commercial construction loan is sometimes a prolonged process. Lenders will want financial information, detailed information about the construction process and other paperwork as they determine if they will fund the project. It is important to look at all areas of funding since you will have the time to look for funds while your application is under review.

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.
Business Debt Restructuring

What is business debt restructuring? Are you facing overwhelming financial…

Submit your review
1
2
3
4
5
Submit
     
Cancel

Create your own review

Business Debt Restructuring
Average rating:  
 0 reviews
What happens if I stop paying OnDeck

If you have an existing loan with OnDeck, or a…

how to get a business debt consolidation loan

This article is the ultimate guide on the best options…

how to pay back personal credit card debt used to start a business?

Did you take out a personal loan, on your credit…

Can I take a loan out for a business if already in debt?

Do you already have a business loan out? Do you…

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