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

Naperville-Illinois Hard Money Loans

A hard money loan is a real estate loan that uses your property as collateral, instead of your ability to repay. Generally only offered for investment purposes, a hard money loan is a source of short-term funding.

 

Types of Hard Money Loans

 

As private firms and individuals offer these loans, they’re provided on a case-by-case basis. Some of the more common types include:

 

  • Bridge loans let individuals purchase a new property with the goal of refinancing or reselling it.
  • Fix-and-flip loans let people buy properties for quick renovation with the intention to resell.
  • Construction loans give real estate developers the ability to begin a new construction project without having to go through traditional lending options.
  • Owner-occupied loans allow consumers who don’t qualify for traditional financing to buy personal property.

What You Should Know About Hard Money Loans

 

Most hard money loans are for short periods—12 months being the most common term. You’re often only required to pay interest-only payments, and in some cases, don’t have to make any payment at all. Expect to make a down payment. Lenders require cash based on the after-repair-value or loan-to-value ratio of the property. Hard money loans are paid off in full at the end of the funding period.

 

Differences Between Traditional Loans and Hard Money Loans

 

It’s much easier to receive approval for a hard money loan in comparison to a traditional loan. Lenders are more likely to overlook bankruptcies, recent foreclosures and bad credit. However, if the loan’s for personal use, the lender must follow Dodd-Frank regulations and verify your ability for repayment. Most hard money lenders don’t offer loans for personal use, as they’re required to undergo strict, expensive licensing requirements.

 

Pros and Cons

 

Some benefits of a hard money loan include:

 

  • Quick funding. Expect to receive funding within a week or less, as opposed to a multi-week or multi-month process for a traditional loan.
  • Lenient requirements. Hard money lenders focus on the value of your collateral, paying less attention to your credit score, debt and income level.
  • Flexible financing terms. If you’re getting a loan to invest, the flexible terms let you personalize the loan to fit your situation.
  • Superior investment opportunities. Because you can get cash in a matter of days, you’re able to quickly take advantage of real estate deals or other investment opportunities.

Cons of hard money loans include:

 

  • High-interest rates and fees. Consider the included costs while determining if quick access to financing is worth it.
  • Short loan terms. You need to make sure that you’ll be able to repay the loan in full once the term ends. Keep in mind that some lenders let you pay off your loan over longer periods of time, but you’ll receive a higher interest rate.

Requirements and Costs

 

It’s a bit difficult to pinpoint requirements, as each lender has different things they’re looking for. The current value of the property you’re using as collateral is the most important thing for most lenders. If you’re planning to use the money to buy and flip home, lenders typically want to know the after-repair value and an appraisal on the property.

 

Alternative Loan Options

 

Consider the following alternative financing options:

 

  • A home equity loan, where you get a loan backed by the amount of equity in your current property.
  • Cash-out refinancing, which is similar to a mortgage refinance. The difference is that instead of refinancing the remainder of your mortgage, you’re able to borrow a larger amount of money and have the extra equity loaned to you.
  • A home equity line of credit or HELOC gives you access to a line of credit based on the equity in your current properties.
  • If you’re affiliated with the military, a veteran’s administration (VA) loan is a possible option. These loans have high credit requirements, but they offer interest rates that are more favorable.

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

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