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

Tacoma-Washington Hard Money Loans

Understanding Hard Money Loans – Tacoma-Washington
In the world of mortgage lending, there is no one solution that fits the needs of every prospective borrower. With that being the case, what happens when you are simply unable to qualify for a conventional mortgage? A hard money loan can serve as an alternative solution if you need money for the purchase of real estate right away. The information below will help you better understand hard money loans so that you can determine if it’s the right option for you.

Different Types of Hard Money Loans

Hard money lenders are comprised of private companies and individuals who offer and approve loans based on each individual case. Hard money loans are primarily for real estate for investment purposes. However, there is an exception allowed by some hard money lenders. There are different kinds of hard money loans, such as the bridge loan, fix-and-flip loan, owner-occupied loan and construction loan. Each loan type serves a different purpose. Let’s dive deeper into some of the different hard money loan options.

Bridge loans allow you to purchase a property fast when you intend to refinance or resell it. You can also use this loan to purchase a new property before you get the cash down payment from a property you currently own. Then there’s the fix-and-flip loan, which enables you to buy a fixer upper so that you can sell it, then pay the loan off. The owner-occupied loan, which is less common, is for consumers who can’t get approved for more traditional financing. The construction loan type is for new construction projects and the goal is to refinance and sell the property.

The reason hard money lenders are less interested in consumer loans is because they require compliance with more regulations, such as the Dodd–Frank Wall Street Reform and Consumer Protection Act, which governs the debt-to-income ratio. Essentially, the law is intended to verify that a borrower is able to repay the loan. There are also licensing requirements through the National Multistate Licensing System & Registry for consumer loans.

How Hard Money Loans Work

The loan period for hard money loans is usually about 12 months, but can vary. The monthly payments for hard money loans are interest only, instead of principal and interest. Sometimes there are no payments required. Hard money lenders often require cash that’s according to the Loan-To-Value (LTV) or After-Repair-Value (ARV) ratio. When it’s time to pay the loan off, that occurs in a balloon payment that includes the principal, interest and all fees.

As you can see, hard money loans are unlike most traditional bank loans. While these loans might have a similar underwriting process, they differ in just about every other way. Traditional lenders focus on your credit rating and income, while hard money lenders are more likely to forgive poor credit and are less concerned about your income. Hard money lenders are also more likely to overlook bankruptcies and foreclosures, which is certainly not the case for traditional lenders.

Advantages and Disadvantages of Hard Money Loans

Regardless of which lending product you choose, it’s important to understand any issues surrounding the loan product. Hard money loans have high interest rates and fees. They are also short term and you might have a hard time refinancing because of traditional lending requirements. Additionally, there isn’t a lot of government oversight for hard money loans. These are all issues that should be considered.

When it comes to the advantages of hard money loans, there are several. For starters, the funding process is fast and the terms are flexible. As aforementioned, these loans also have lenient requirements, which means you are more likely to qualify for a hard money loan than a traditional mortgage loan. When you have a real estate investment opportunity, these advantages might be enough to satisfy any concerns that you have.

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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