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

West Palm Beach-Florida

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Real estate investors in West Palm Beach, Florida have new options for financing their projects. With hard money loans, you’ll be able to take on more investments and make more money. This quick funding option provides you with property-focused financing that’s available to nearly any investor. Even if you’ve been turned down by banks or finance companies, there’s now an alternative that’s much faster and affordable.

What is a Hard Money Loan?

A hard money loan is a temporary real estate loan that allows you to purchase a property and make improvements in order to resell it. These loans are only designated for investors and shouldn’t be considered for a primary owner-occupied residence. The approval criteria focus on the value of the home and how much it would be able to sell for after the improvements are made.

There are many different types of hard money loans in West Palm Beach, Florida; however, the two most common are rehabilitation loans and bridge loans. With a rehabilitation loan, the purchase price and estimated improvements are financed in order to “fix and flip” the house. Bridge loans are for those who need immediate funding to purchase a property for resale but don’t have a significant or adequate down payment. These loans are typically one to five years in length and are considered alternative financing options. You’ll need to focus on quick resale of the property in order to repay the mortgage. These loans are difficult and expensive to maintain if not refinanced or repaid.

What is Needed to Qualify for a Hard Money Loan in West Palm Beach, Florida?

In order to qualify for a hard money loan, you’ll need to select a property and gather all the information possible. This can include a recent appraisal, estimates, and anything else that helps to establish the value of the home. An appraisal that includes comparable sales of homes in the area will most likely be ordered. A home inspection is also beneficial to avoid any expensive pitfalls that could surface later in the project.

Unlike traditional real estate financing, hard money loans focus on the property much more than the borrower. This means that borrowers with poor credit and limited assets are still good candidates for this type of financing. With real estate investing, bumps in the road are to be expected. Therefore, we have many options available to help your project go as smoothly as possible.

How Do Hard Money Loans Differ from Traditional Financing Methods?

Traditional financing methods tend to take a much longer time to approve and are subjected to much greater scrutiny in underwriting. Since investment properties aren’t the focus of these government backed loans, they’re typically not given a high priority. Credit and assets are also major considerations with any government backed loan. The processing times and chances of denial are significantly greater. For borrowers that fall outside of the standard criteria of a government loan, hard money loans are a much better and faster option for investors.

How Do I Apply for a Hard Money Loan in West Palm Beach, Florida?

It’s easy to apply for a hard money loan online or by phone. Our dedicated and courteous loan representatives are prepared to guide you through the process and get your loan funded, quickly. A simple online application can be completed in less than five minutes and will ask you all the pertinent questions. Our representative will then follow up to answer any questions you may have and get the application submitted for you. Before you know it, you’ll be going to settlement and on your way to making money. Give us a call or apply online to get your next project started, today!

Understanding Hard Money Loans

When real estate investors are unable to obtain a traditional mortgage loan to fund a project, they often turn to hard money lenders. It’s simply a fact of life that traditional mortgage loans don’t work for every situation. If you have questions about hard money loans, keep reading to learn about this asset-based lending solution.

About Hard Money Loans

Hard money loans are provided for the purchase of real estate and the value of your property as collateral is the basis of the loan. While the entirety of your loan application is considered, it’s not like traditional mortgage loans where your income and credit scores are the primary determining factors in whether your loan is approved. Hard money lenders are private firms and individuals that assess the entirety of your application as opposed to just following strict guidelines without considering your situation. There are different types of hard money loans that meet different needs.

Types of Hard Money Loans

A bridge loan enables you to buy a property, then resell or refinance it. This type of loan is also for buying a new property before getting the cash for a down payment through the sale of a property that you already own. A construction loan enables real estate developers to start a new construction project and refinance or sell it right away. You can use a fix-and-flip loan to buy and fix up a rehab property, then resell it and pay off the loan. The owner-occupied loan is offered by a small number of hard money lenders because it’s a consumer loan and a lot more regulations are involved.

How Hard Money Loans Work

Many real estate investors appreciate the fast and easy application process for hard money loans. It can take less than a week to complete the lending process. Generally, borrowers are required to have a cash down payment that’s determined based on the Loan-To-Value (LTV) ratio or the After-Repair-Value (ARV) ratio.

Hard money loans are for a short period of time, typically 12 months to several years. Instead of monthly principal and interest payments, there’s a chance that you will only have to make interest payments. There’s even a possibility of zero payments until the balloon payment is due. The balloon payment will include the entire principal, the remaining interest and any fees that have been added to the loan.

Is a Hard Money Loan Right for You?

Whether a hard money loan is right for you depends on your situation. You will need to consider the pros and cons. The benefits of a hard money loan include fast access to money, flexible terms and lenient requirements for approval. These are not characteristics of traditional mortgage loans. With a hard money loan, you are more likely to have the financial resources that you need to invest in real estate.

Some of the downsides of hard money loans are the short terms, have high interest rates and fees. Hard money loans also have limited government oversight, which means you should be careful about the lender that you choose. There could also be an issue with refinancing as a result of traditional mortgage lender requirements to satisfy the “seasoning” period. This means you’ll have to hold the loan for a certain period of time before refinancing.

Despite the downsides, many real estate investors see hard money loans as a tool that enables them to capture more investment opportunities. The reality is that hard money loans offer a solution to a problem and can make the difference in the success or failure of a real estate investor. If you are unable to obtain a traditional mortgage loan, a hard money loan could be a good alternative.

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