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 Virginia

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What distinguishes Virginia hard money lenders from normal lenders?
The main difference between traditional lenders and  hard money lenders is the fact hard money lenders are asset based lenders. They entirely revolve their decision based on on the collateral associated with the by the person requesting the funds. But, traditional lenders hone in on your credit and liquidity. It is critical to remember hard money loans are not great for the long run. The purpose of a hard money loan is to be a bridge loan that gets you the real estate you are attempting to acquisition. Hard money lenders focus on 6-24 month termloans that generate a great ROI. If you are unable to repay the loan you took, a hard money lender can take possession of your property in order to repay his/her loan.

Why is a hard money loan a bad idea?
There’s plenty of reasons reasons why a hard money loan is a terrible idea. For example, hard money lenders often charge higher interest rates. This is because of the fact hard money lenders think they are taking huge risks by lending on an investment property – and want to be reimbursed at a higher rate than what a bank would charge. High interest rates make hard money loans economically toxic for some types of deals. Moreover, hard money lenders have much shorter terms than conventional lenders – that also makes them unattractive. Institutional lender offer 30 year periods but hard money lenders offer only 1-3 year loan terms.

Hard money lenders can finance your deals fast
Hard money lenders assist a very specific group of people, i.e. property investors. Hard money lending is a type of bridge term lending, which is secured by property. Specifically, the people who use hard money loans are generally property investors – typically, those who are being denied a conventional loan due to stringent guidelines.
Hard money lenders exist because they are fast, and offer loans with little to no headaches. Hard money lenders have a fast application system. They expect collateral and don’t look at your credit rating. They focus on your experience, as opposed to your credit score. In case you have a bad financial history, it’ll be much easier to obtain financing with a hard money loan rather than a conventional loan which is granted based on your credit report. Below are situations where hard money lenders fill a void that traditional lenders don’t touch:

Virginia Hard money loans can be used for repair and flip property investors
Most traditional lenders will not offer you a loan to get a fix and flip job. If the house is in poor condition, or there’s some other abnormality with the home, then a traditional lender won’t give you funding. In addition, most reverse and fix prospective deals”go fast.” The seller is extremely motivated to sell the property, and will accept the first offer. Traditional lenders take forever, so by the time the loan is approved – you have already lost the property because someone paid money for it. If you have a hard money lender on your side who will close a loan in 5-10 days, you can get the fix and flip property.

Hard money loans are ideal for people who don’t have great credit
Most traditional lenders look at a potential borrowers credit score. They look at your income and explore past delinquencies. It means that somebody with a credit score will have a challenging time, and in some instances never get approved. When this occurs, your only option is to work with a hard money lender. While the interest rates for a hard money loan are higher than conventional loans – if you can still make money, it may make sense to take the money.

Hard Money Loans Can Be Used For Commercial Real Estate Investments
Many real estate investors who want a commercial real estate can get hard money loans from a commercial hard money lender. At Delancey Street, we lend on commercial properties throughout the USA, with rates as low as 7 percent, with terms ranging from 6-24 months. We provide amazing customer service, with no hidden charges, or bait and switch tactics. We don’t charge prepayment penalties, and there are no income requirements. There are no minimum credit score requirement, and we have minimum paperwork. We provide commercial, hard money loans for multifamily properties, office buildings, retail locations, industrial buildings, and much more. We have assisted with a wide array of commercial real estate investors secure funding for many different commercial properties. We work with real estate brokers and hard money brokers who are trying to help their clients receive a personal money loan. We’ve financed countless commercial loans and will work with all types of borrowers. Underwriting a commercial hard money loan requires a whole lot of effort and requires a motivated team.

We Provide West Virginia Fix and Flip Loans
Real estate investments can be some of the most lucrative of all investments. If you invest in the right property, and have a good lender behind you, you can truly get things done in this industry. Fix and flip loans make it possible for anyone, even those with bad credit, to benefit from real estate investments. A traditional fix and flip loan is a hard money loan that helps someone, regardless of credit history or income, buy a bargain house, fix it up, and sell it back for a profit. Unlike traditional real estate purchases where someone buys a house so that they can live in it, a fix and flip buy is done solely for the purpose of making a profit when you put the house back out on the market.
The application process is incredibly simple and informs us about your project and objectives. No matter what your plan is, there’s a great chance that we can help you get a fix and flip loan that will feature competitive interest rates and great customer service/guidance along the way. That’s because we know a LOT about these loans.

No Credit Check Hard Money Loans
There aren’t many loans in the world that you can get even if you have bad credit and limited income. Most lenders want to know that you already have the money to repay them, regardless of how your enterprise goes along the way. With hard money loans, things are different. You’re not going to be approved because your credit rating is great or because you have a huge income. In fact, you may have very little income but still need a large sum of money to purchase the house you have your eye on for a fix and flip. With hard money lenders, we use your property – in this case your investment property – to approve you for the loan. . We love partnering with people who have great fix and flip ideas and who trust us to be with them every step of the way. It’s why we’ve been successful in our own business.
Since you don’t have to have a great credit rating or minimum income, it’s easy to get you set up and approved for this loan IF you have a business plan in place. It’s our job to ensure that your plan is solid, and we will certainly talk with you at length about just why your fix and flip is going to work. We strongly believe in the power of people to achieve their dreams, and we’d love to help you achieve yours.

Why You Should Call Today
As we always mention, Delancey Street is a firm that believes in the go-getters. We love people who love to “do” and take action. Call us today to get started on your fix and flip loan application. We’ll take the time to answer all of your questions, listen to your concerns and comments, and let you know just why we’re the right lender for your specific fix and flip job.

Once a real estate investor discovers a property they wish to purchase, they want to complete the transaction as soon as possible. However, if they pursue a traditional mortgage through a bank, gaining financing may take several weeks. Rather than go through this time-consuming process, many investors rely on hard money loans to get that perfect piece of property. But since hard money loans differ from traditional mortgages, knowing the details associated with these loans is very important before committing to this form of financing.

Project Flexibility
When an investor pursues a hard money loan, it may be for a variety of different projects. For some investors, the loan will be used for a fix-and-flip project, where they will purchase a property, quickly make the necessary repairs, and then sell it for a profit, enabling them to pay off the loan. For others, it may be used to purchase a property to start a business, or perhaps a construction project. Whatever the case may be, since these loans are provided by private individuals and institutions, each investor’s case is considered case-by-case, making these loans suitable for many investment options.

Repaying the Loan
Unlike mortgages where the bank assesses a person’s ability to pay back the loan, the lender of a hard money loan is concerned much more about the value of the property to be purchased, since it will be used as collateral for the loan. Along with this, the payments made on a hard money loan will not be monthly payments of equal value applied toward the principal. Instead, the investor will make interest-only payments, with a balloon payment at the end to pay off any remaining principal, interest, and fees. Also, it is important to note that while a mortgage has a payback period of anywhere from 15-30 years, hard money loans often have payback periods of no more than three years.

Have Your Own Money
While a hard money loan will typically provide an amount equal to as much as 90 percent of the property’s value, it will rarely if ever give an investor the full amount to purchase a property. Because of this, any investor preparing to use a hard money loan must be prepared to have 10-20 percent of the property’s value ready as upfront money. In most cases, the lender will look at the property’s loan-to-value ratio or after-repair ratio, which will let them determine how much money they will lend toward purchasing the property.

Past Financial Problems
If an investor who has had past financial problems with bad credit or bankruptcies attempts to secure a mortgage at a bank, they are most likely wasting their time. However, if pursuing a hard money loan, the lender cares little about these or other financial problems from the investor’s past, since they are in a win-win situation. For the lender, either the loan is paid off on time, is refinanced at a higher interest rate, or they foreclose on the investor and take ownership of the property. However, since past problems are not an issue in securing hard money loans, investors can gain these loans very quickly, often in less than one week.

Finding Hard Money Loan Lenders
For investors who have never used a hard money loan to purchase property, one of their biggest obstacles is finding a lender who specializes in these loans. But while this may sound difficult, it is often much easier than most people realize to find a source of local hard money loans. In most cases, simply asking other investors or real estate professionals will usually lead to many sources of these loans. In many places, chances are numerous investors are using this method of financing, so finding a local lender should be no problem.

Sometimes people just don’t qualify for traditional mortgage loans, even if they have good credit and stable income. This is often a result of rigid requirements that can seem impossible to satisfy. Hard money loans can serve as an alternative and an immediate solution for the purchase of real estate. The information below provides insights into hard money loans so that you can make a informed decision about whether it can work for you.

About Hard Money Loans

Hard money loans are for the purpose of buying real estate. These loans are made based on the value of your property that serves as collateral, which is different than traditional mortgage loans that have stricter requirements for income and credit scores. The requirements of traditional mortgage loans are focused on your ability to repay the loan. As individual investors and investment firms, hard money lenders look at each application on its own merit and the criteria is often lenient. In fact, they are more forgiving of issues like poor credit, bankruptcies and foreclosures.

There are different types of hard money loans. A bridge loan is a good option if want to buy property, then refinance or resell it. You can also use a bridge loan to buy new property before getting cash for a down payment from the sale of a property that you already own. As the name implies, a fix-and-flip loan is for purchasing a rehab property, fixing it up, then selling it, at which point you’ll pay off the loan. A construction loan allows a real estate developer to start a new construction project, then sell or refinance it.

The owner-occupied loan is for consumers who are unable to qualify for other loans. There are few hard money lenders that offer owner-occupied consumer loans because many do not want the hassle of increased regulations, such as the Dodd–Frank Wall Street Reform and Consumer Protection Act. There are also certain licensing requirements with the National Multistate Licensing System & Registry that apply to consumer loans. If you are interested in an owner-occupied loan, there’s still a chance that you can find a hard money lender that offers consumer loans.

How Hard Money Loans Work

Some real estate investors are fond of hard money loans because the application process is fast, at times less than a week. The application process isn’t complicated like other loan types. Generally, you will need a cash down payment for hard money loans. The amount required will be determined based on the Loan-To-Value (LTV) ratio or After-Repair-Value (ARV) ratio.

A distinct feature of a hard money loan is the term, which can be up to a few years, but is usually just one year. Instead of making monthly principal and interest payments, you may only be required to make interest payments. There’s even a chance that you won’t have to make any payments until the loan matures, at which point you will make a balloon payment. That final payment includes the principal, the remaining interest, and all of the fees that have been added.

How Hard Money Loans Are Different

When compared to traditional bank loans, hard money loans have higher interest rates and more fees.
While they both offer loans for real estate, there aren’t many other commonalities. The repayment period for hard money loans are very short and there is a lack of government oversight. There might also be issues with refinancing the loan due to traditional mortgage loan requirements.

Despite the downsides of hard money loans, sometimes the pros outweigh the cons. Namely, you can get the money that you need within a week, the requirements are lenient and terms are flexible. These benefits make hard money loans a great alternative that allows you to take advantage of real estate investment opportunities that come your way.

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