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Hard Money Loans Westchester

We empower entrepreneurs, real estate investors, and businesses of all sizes challenge the status quo. We take risks on the go-getters, and do’ers – who have an opportunity and need a partner.At Delancey Street, we invest in people and their ideas – not abstract concepts like credit scores, or other financial metrics. Tell us about your idea, let’s discuss your opportunity

1

High LTV

We fund hard money loans up to 80-90% LTV with no issues.

2

Fast

We promise to treat you like a partner

3

No $ Limit

No limits on what we can do for you.

Business Funding

Our client was a trucking company based out of NY, that needed quick funding. In 24 hours, we arranged $100,000 in funding.

Raised
APR
ARV
700,000
9,0%
60%
100% Funded!

Residential Refinance

We funded a purchase in California, for $1.2 million with 65% LTV. We helped the developer with with a 11% loan with balloon payment.

Raised
APR
ARV
1,200,000
11%
82%
100% Funded!

Lawsuit Funding

Client was injured in a car accident and needed a cash advance on the future value of his lawsuit. In 48 hours, our funders wired funds over.

Raised
APR
ARV
830,000
8,99%
75%
100% Funded!

PARTNERS FIRST.
LENDERS SECOND.

Hear from people we've helped

Delancey Street makes lending easy. They took a chance on me when no one else would.

Leo kovacz

Founding Partner (Zooomr Car Leasing)
Delancey Street funded our e-commerce shop and really gave us the chance to grow our business significantly.
Delancey Street makes lending easy. They took a chance on me when no one else would and helped my...

Steven Goldman

Founding Partner (Goldman & Associates
Chicago Lawyer)

Industries We Service

Cannabis
Residential Real Estate
Commercial Real Estate
Startups

Our team is always available, and ready to help

Our team of industry experts is ready to help with all of your business needs. Whether you’re looking for a reliable hard money lender, looking to go public via a reverse merger, or need private capital for a venture – we can help.

Industry Experts

Our team consists of extremely qualified industry experts

Quick Service

We work diligently, and quickly, to help you

Our team is always available, and ready to help

Our team of industry experts is ready to help with all of your business needs. Whether you’re looking for a reliable hard money lender, looking to go public via a reverse merger, or need private capital for a venture – we can help.

Industry Experts

Our team consists of extremely qualified industry experts

Quick Service

We work diligently, and quickly, to help you

We’re here to answer your
questions. Contact us anytime:

Minimum Qualifications Requirements

Delancey Street’s team consists of builders, developers, hard money lenders, and entrepreneurs. We understand your project has unique needs, and not every project is going to be easy and be ideal. These are general guidelines which should be interpreted as a suggestion, rather than mandatory.

At the end of the day, we look at you – just as much as the quality of the deal and the qualifications.

  • Risk Free. No Application Fees.
  • Decisions Within 48 Hours.

Hard Money Loan Guidelines

Speed We close within 24-48 hours
Paperwork Not much
Qualification Project and LTV matter. We don’t care about your credit.
Maximum LTV 80-90%
Loan Terms 12-48 Months

It’s Simple

  • 1 Tell us your financial request
  • 2 We consult & provide terms
  • 3 We finalize the transaction

Get pre-qualified

  • Looking to purchase a property
  • No obligation and no effect on y
Get pre-qualified today

Hard Money Loans Westchester

The real estate market, which is finally making a positive comeback, is bringing about new business for borrowers and lenders alike. Many borrowers are utilizing hard money loans to help them complete their financial transactions. Hard money loans are substantially different than conventional mortgage loans. Here is an overview of what hard money loans as well as how they differ from conventional loans.
What are Westchester Hard Money Loans?
Westchester hard money loans are loans typically used to purchase homes or real estate property. They are most often used by individuals or companies who wish to purchase property, renovate it and resell it. Those in the fix-and-flip business usually always use hard money loans because they get their properties at real estate auctions and need to pay for the property quickly.
Westchester Hard Money Loans vs Westchester Conventional Mortgage Loans
There are many differences between hard money loans and conventional mortgage loans.
• Financing – Soft money or conventional mortgage loans, obtain their financing from conventional banks and credit unions, whereas hard money loans are financed through private investors or investment companies.
• Loan Terms – Soft money loans have terms that go from ten years to 30 years. Hard money loans generally go for one year, although some may go up to three years.
• Interest Rates & Fees – Hard money loans have higher interest rates than conventional loans. Hard money loans are riskier than traditional loans, and thus lenders charge a higher interest rate.
• Eligibility Requirements – Conventional mortgage loans have many requirements borrowers must meet such as income, employment, credit scores and work history. Hard money loans are based solely on the value of the property and the borrower’s equity, making it much easier for approval.
Benefits of Westchester Hard Money Loans?
Despite not being financed by conventional banks and charging higher fees, there are still many benefits with hard money loans.
• Faster Approval – Because the property value is the main approval criteria, hard money loans can be approved in a couple of days, unlike conventional loans that can take weeks.
• More Flexible – Hard money loans come from through private investors so they’re often more willing to negotiate loan terms and payments. In contrast, traditional lenders are very firm on what they can, and cannot do.
• Credit Not a Factor – Hard money loans are the ideal solution for individuals with limited or poor credit because credit scores aren’t looked at. Most hard money lenders look only at the viability of your project, and how you plan on replaying the loan.
• Credit History Not a Factor – Because the property value is the main criteria, borrowers can be approved for more than one hard money loan at one time. Conventional banks, on the other hand, would typically not approve more than one loan because approval is based on income-to-debt ratio.
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Disadvantages of Hard Money Loans
Despite the many benefits of hard money loans, like most financial transactions, there are also some pitfalls to hard money loans that potential borrowers should be made aware.
• Higher Interest – Some borrowers don’t realize the higher interest rates until after they’ve completed the transaction.
• Shorter Loan Terms – The shorter loan terms, which are usually considered a plus, can be a disadvantage if you’re not ready to pay off the loan when the term is up.
• Higher Fees – The fees that are associated with most loans are substantially higher with hard money loans.
• Fewer Regulations – Hard money loans don’t come with the same regulations as conventional mortgage loans so borrowers should be aware of with who they’re doing business.
What’s Next
Delancey Street offers loans throughout the USA. If you need funding for your next commercial or residential project, fill out our contact form or call us. We have over $200 million available to fund new projects, and can work with you.

Hard Money Loans

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