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

Yonkers-New York Hard Money Loans

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A Guide to Hard Money Loans in Yonkers, New York
A hard money loan is a real estate loan that is used by investors. Many investors choose hard money loans for a number of reasons. If you are interested in taking out a loan in Yonkers, New York, then it can be helpful if you have an understanding of hard money loans.

Types of Hard Money Loans
When you apply for a hard money loan, you have different options that include:

Bridge Loans
A bridge loan is a hard money loan that enables an investor to purchase a property quickly with the intention to resell or refinance the property. A bridge loan is also for individuals who want to purchase a new property before they get funds for a down payment from the sale of another property.

Owner-occupied Loans
These loans are for individuals who don’t quality for other loans and finance options. With an owner-occupied hard money loan, investors may be able to purchase real estate for themselves.

Fix-and-flip Loans
Fix-and-flip loans are for investors who want to purchase a property to make quick renovations with the purpose of selling it to pay off the loan.

Construction Loans
Construction loans are for real estate developers who want to begin a new construction project. Usually, real estate developers who take out construction loans have a goal to refinance or sell the property quickly.

Hard money lenders are private firms that often consider each application on a case-by-case basis, and they are typically open to granting hard money loans to investors for numerous purposes.

How Does a Hard Money Loan Work in Yonkers, New York?
Most hard money lenders only give out loans to investors. Those who want to take out a loan to fund their private home may have to look for other resources. Hard money lenders only issue loans for a short time. In most circumstances, hard money loans are for a 12-month period. If you take out a hard money loan, you wont have to make equal payments every month toward the interest and principle. Most hard money loans require an interest-only payment. Typically, the loan is paid off in one balloon payment. This payment will cover the remaining interest, principle, and any additional fees.

Why You Should Consider a Hard Money Loan
Hard money loans in Yonkers, New York, offer a number of benefits. They offer increased investment opportunities. If you wait to take out a regular mortgage with a bank, then you may miss out on a good real estate deal.

They also offer flexible terms. Hard money loans are issued by private lenders. Unlike traditional banks, hard money lenders are able to develop customized loans that work to fit your needs. Hard money loans come with lenient requirements. With mortgages at banks, your credit score, debt-to-income ratio, and income will be taken into account. Hard money lenders don’t focus on these factors as much.

What are the Eligibility Requirements for Hard Money Loans?
Traditional banks look at your ability to repay the loan, but this isn’t the case with a hard money lender. Although hard money lenders are required by law to look at credit scores and income, the primary factor that determines eligibility is the value of the collateral.

Because collateral is the most important part of a hard money loan, lenders will want to see a full appraisal of the property. Furthermore, lenders may require a down payment, which is usually calculated by the current value of the collateral or the after-repair value (ARV).

Are you interested in learning more about hard money loans? We invite you to contact our team at Delancey Street. We can provide you with additional information about hard money loans in Yonkers, New York.

When it comes to getting a hard money loan, you’ve already made your decision. You’ve decided that this type of loan appeals to you, but you’re not exactly sure where to start the process. Once you understand exactly how hard money loans work, you’ll be able to make a smart decision about how to go about getting one the right way.

What is a hard money loan?

A hard money loan loan is a short-term real estate loan extended to investors by individuals or organizations. You don’t need great credit to qualify since the hard money lender uses the property you’re buying as collateral. You get your money in as quickly as a week, making it a great option for people who want to be a part of fast-moving real estate deals.

On the flip side, hard money loans have high interest rates which impact the final payment that you’ll owe. They’re also due in full at the end of the loan period, meaning that the property needs to sell by that time. This wouldn’t be an issue if the hard money loan periods were long, but they rarely last longer than three years and usually only last one. If the property sells, you’ll be fine. If it doesn’t, you’ll have to handle the fallout.

What questions should you ask a hard money lender?

Before you sign on the dotted line with a hard money lender, you need to ask them a full list of questions. Being fully prepared can help you decide whether you’re going to go the hard money route or the more traditional route. Some key questions are below.

Do you provide loans for owner-occupied property or just investment property?
Most hard money lenders prefer to only lend money to investors. The reason behind this is because when they loan money to individuals to be used as owner-occupied dwellings, they will be required to have stricter lending criteria than they would if they were simply lending the money to investors who are buying property for investment purposes.
This question is primarily for people who are hoping to use a hard money loan to purchase a home that they will be using as their primary residence.

How do you expect the loan to be repaid?
Many hard money lenders don’t require people to pay principal at all during the loan period. At most, they’ll require interest-only payments or no payments at all. The reason behind this is that they intend to be paid once the property is sold at the end of the loan period via one large balloon payment. Every hard money lender is different, so check with the ones that you’re interested so that you know exactly what will be expected of you.

What type of interest rate do you charge?
Find out what interest rate the lender will charge. Many hard money lenders will not advertise the interest rate that they charge, so nail them down and ask them. A few percentage points difference could cost you a lot of money. Depending on the lender, you may be able to work out a solution that works for both of you.

How much experience do you have in the hard money lending industry?
The hard money lending industry is not regulated, making it perfect for predatory lenders to take advantage of unsuspecting borrowers. In order to make sure that this doesn’t happen to you, make sure that the lender lets you know exactly how long they’ve been in business and what kind of deals they’re been responsible for. If you’re new to the hard money lending arena, you’ll want to go with a company that has a lot of experience so that you can be confident that they know what they’re doing.

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