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 Spokane-Washington

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More About Hard Money Loans in Spokane Washington

Not only is Spokane in one of the most picturesque regions of Washington state, but it is also a city with a great deal of real estate potential. This is a place where investors and developers alike can really stay busy finding deals that turn a nice profit. However, there are times when you will find that you may not qualify for a traditional type of mortgage. It could also be that you don’t have the weeks or months that it takes to get a property loan from a conventional lending institution. No matter what the case might be, you will want to look into the possibility of getting a hard money loan from Delancey Street.

Types of Loans to Consider

When you go to look at a hard money loan, it is first important to understand that there are quite a few different types that you will need to consider. Each of these is meant to be short term in nature, so you will want to keep that in mind. In addition, you will find that the application process is streamlined, with funding taking place in under a week in many cases once you are approved.

Here are some possibilities that might work for you depending on your situation:

  • A Construction Loan – As its name implies, approval for this type of loan will give you quick access to cash to build a structure on an existing piece of property. Your aim will be to get the project finished quickly and then sell it off or refinance the existing loan.
  • A Bridge Loan – You would apply for this type of loan if you have located a piece of property that you want to buy and then almost immediately sell. You may also refinance the loan. Many people also get a bridge loan if they have an existing property that they are planning to sell in the near future. The cash from that sale would then pay for the bridge loan.
  • An Owner Occupied Loan – While this might be harder to get approval for, some hard money loans are available to purchase an existing structure that you personally plan to occupy.
  • A Fix and Flip Loan – There are good buys all around Spokane, but many of them are in ill-repair. You can use this loan to buy a property cheap, fix it up, sell it at a profit, and then use the proceeds to pay off the loan as soon as possible.

Here’s Some More Information

There are some more details that you might be interested to know about when it comes to hard money loans. The lender, such as Delancey Street, will typically want to see that the purchase is for investment purposes. While it is possible to fund a purchase for a personal loan, that is not typically the function of a hard money loan. No matter what your purpose might be, you will want to talk to a representative from the company to see what option best suits you.

These loans are much different than other types of property related mortgages in terms of the length of time that you will have to pay it off. You are talking no more than a few years with a hard money loan. The goal is for you to get access to quick cash for a property that you intend to use to turn a profit. You will either pay off the loan in as little as a year or refinance it.

If you would like to learn more about hard money loans and the possibilities that they bring to the table, please contact Delancey Street at your earliest convenience.

Hard Money Loans
There are times when investors need immediate funds for a real estate purchase but are not able to qualify for a traditional mortgage. One solution to this problem is a hard money loan. Hard money loans are used by many individuals to solve mortgage problems.

What is a Hard Money Loan?
A hard money loan is a real estate loan. Eligibility requirements are not based off of your ability to repay the loan. They are based on the value that the borrower offers as collateral. When applying for a hard money loan, individuals have many options that include:

Fix-and-flip loan: This type of loan enables a borrower to purchase a property quickly to make property improvements and then sell it to pay off the loan.

Bridge loan: These loans give a borrower the opportunity to purchase a property quickly and then refinance or resell the property.

Construction loan: This type of loan is for real estate developers. These loans are for developers who want to start a construction project and then sell it or refinance it quickly.

Owner-occupied loan: This type of loan is for individuals who do not meet the eligibility requirements of other finance options. When consumers do not qualify for traditional loans, they may be able to purchase a property for themselves through a owner-occupied loan.

How Does a Hard Money Loan Work?
Those who want a hard money loan for a private residence may need to look at other options. Most lenders only offer hard money loans to borrowers who will use the funds for investment purposes.

Hard money loans are typically issued for a short, set period of time, which is usually less than two years. With most hard money loans, borrowers won’t make equal payments for the interest and principle. Typically, hard money loans require that borrowers make payments toward interest or no payment at all (in some situations).

What are the Benefits of Hard Money Loans?
Hard money loans offer a number of advantages to real estate investors. With a hard money loan, real estate investors may be able to finance in a week or less, and the short length of the loan terms usually result in fast turnaround times. Many investors also choose hard money loans because the application process is easy.

Investors often go with hard money loans because they offer flexible terms. Hard money loans are offered through small firms that have the ability to customize loan terms based on a borrower’s needs.

Hard money loans also offer lenient requirements. With traditional mortgages for investors, income and credit will determine if an individual qualifies for a loan. Hard money lenders are usually more interested in the collateral that the borrower has of offer.

Should You Apply for a Hard Money Loan?
In most cases, hard money loans are given to real estate investors who use them as an investment tool. Many investors who need money fast apply for hard money loans. This is helpful for real estate investors because traditional loans can take weeks to months to finalize.

Eligibility Requirements for Borrowers
If you are not able to get a traditional loan you may be able to get a hard money loan because these loans are issued through private lenders. These lenders offer less regulations than traditional mortgages.

The biggest factor of a hard money loan is the collateral that is offered, but lenders also look at the potential borrower’s financial situation during a hard money loan application. In addition, most lenders will want a down payment. Potential borrowers with poor credit scores may be asked for a larger down payment than borrowers with good credit scores.

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