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 White Plains

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White Plains Hard Money Loans

Are you a real estate investor looking for a hard money loan? We can help. Delancey Street is a premier and reputable hard money lending company. We’re transforming how hard money is invested by using artificial intelligence to help us work faster and smarter.
The real estate business is a lucrative investment – but funding these projects at times is harder than it sounds. As a result, real estate investors opt for loans. One of the most common loans given to real estate investors is hard money loans. But can a real estate investor with bad credit enjoy the benefits of hard money loans? Yes, he or she can. Real estate investors can use hard money loans to get funding within a couple of days to purchase property. The best part is that the approval of hard money loans only takes 3 to 12 days.

In essence, a hard money loan is a short-term loan which is secured by real property. It’s given by private investors or a group of investors, which means traditional lending guidelines don’t really apply. Hard money loans have shorter repayment periods compared to loans from traditional lenders. Most of them have repayment periods of 1 to 3 years, but there are those that extend up to 5 years. The borrower of hard money has a lot of flexibility when it comes how it’s repaid. For example, you can make monthly payments, or you can choose to make one balloon payment at the end of the term of the loan. It really is flexible.

Real estate investors need to know that the hard money loan they get is based solely on the value of the property being used as collateral. Unlike traditional loans, lenders don’t care about your credit score. However, they require you to show proof you can complete the project, and eventually repay the full loan amount plus the interest. The primary concern of hard money lenders is to get their money back. As such, they require borrowers to have enough equity in the property being used as collateral. It is typical for hard money lenders to give you a loan of up to 60-70% of the value of the property.

When can’t you use a White Plains hard money loan
Before going for this type of loan, you have to keep in mind that hard money lenders will not lend you money to buy your primary residence. This is because such a move goes against the Dodd-Frank regulation, which stipulates that lenders have to first verify a borrower’s ability to repay the full loan amount. Verification entails analyzing the borrower’s income versus his or her expenses to ensure that his or her debt income ratio is low.

What are Hard Money Loans Used For?
Hard money loans are not suitable for every kind of real estate deal. As mentioned before, if an individual is buying a primary residence, it’s not possible to get a hard money loan.
Hard money loans are good for the following:
• Construction loans
• Land loans
• When a buyer has credit issues
• Fix and flip properties
• When the investor needs to buy a real estate property in the shortest time possible

Hard Money Loans Approved Even With Bad Credit
When you have poor credit and need some source of funding, a White Plains hard money lender might be your only remaining option to get financing. Here are a couple of tips that could see you score the loan.

1. Assure the lender that you are determined to make your project a success
If you need a hard money loan to fix and flip a property, you need to assure the lender that you will be able to sell the property at a profit. If the lender is confident in your business plan – your loan will be approved in no time.

2. Be able to explain your poor credit
Different people have different reasons for having poor credit. As much as hard money lenders aren’t concerned with bad credit, but they may need to understand the reason for having bad credit. Your chances of getting approved will be higher if you are able to explain the financial issues you’ve faced in the past.

What happens next
If you’ve made up your mind that a hard money loan is what you need, you can begin by filling out the initial loan detail page on our website. This gives our team the info we need to start calculating whether or not we can fund your project. If we determine we can, our team will reach out to you to learn more about your venture – and answer any potential questions you may have.

When seeking out a real estate loan, the usual process for most people is visiting a bank to apply for a mortgage. However, since this can be a time-consuming process and be prohibitive to those who have problems with bad credit or bankruptcy, other options such as hard money loans may make more sense. A different type of real estate loan, hard money loans offer such benefits as easy application and approval processes, large amounts of money in only a few days, and flexibility to be used for many types of investment projects. Yet despite these many perks, they also have many aspects that can lead to financial difficulties if investors do not use them wisely. To learn more about these loans, here are some important details to remember.

Short Payback Periods
If you seek out a hard money loan, be prepared to pay back the loan far quicker than a regular mortgage. Instead of having decades to pay off the loan, your lender will expect payment in full within no more than three years, and in most cases only 12 months. Because of this, you should always have a plan in place that will guarantee the property you purchase will be sold quickly enough to allow repayment of the loan. If this does not happen, you may face not only additional fees and higher interest rates if you apply for an extension, but also possible foreclosure on the property by the lender.

What About Collateral?
When applying for a hard money loan, the collateral used for the loan will be the property being purchased. Instead of examining the applicant’s financial history to determine their ability to repay, the lender will be more interested in the property’s loan-to-value or after-repair-value ratios, both of which will determine how much money they are willing to lend. As an example, if the property is valued at $100,000, the lender will probably lend $80,000 toward the project, meaning the investor will only need $20,000 of their own money to complete the purchase.

Private Individuals and Institutions
Instead of getting a hard money loan from a local bank, investors will instead be working with private institutions or individuals to secure these specialized loans. While the advantages of this include quicker approvals and greater flexibility in how the loans can be used, the downside is there are few if any regulations surrounding these loans. As a result, the lenders often charge very high interest rates, tack on a variety of fees, and can essentially create any loan terms they wish, so long as the applicant agrees to their terms.

Plan Ahead of Time
If you decide to pursue a hard money loan for an investment project, have a plan in place well ahead of time. For example, if you are planning to purchase fix-and-flip properties with the loan, make sure you are not stuck in a buyer’s market, where the properties may not sell as fast as anticipated. Since you may only have one year to pay off the loan, always be sure you are virtually certain your plans for the project will come to fruition in time to pay back the loan. Otherwise, foreclosure, refinancing, and higher interest rates and fees may be on the horizon.

Ask Plenty of Questions
When meeting with a hard money loan lender, don’t be shy about asking as many questions as possible to make sure you understand how the loan works. For example, always ask about the payback period, interest rates, how much experience they have in providing these loans, and if they have a valid real estate broker’s license, since this is a requirement for those offering these loans. By asking these and other questions, you can be sure your lender is reputable.

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