We help real estate investors get hard money/private money loans for their next project. Money and finances should never be the obstacle that stops you from succeeding. We regularly help 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 – and how we can help you capitalize on it. For years, our team members have been helping people capitalize on opportunities using hard money loans, private loans, reverse mergers, other financial vehicles.
We fund loans up to 80-90% LTV. We look at the value of your property, and your overall business plan when deciding whether to fund you.
We realize deals can disappear if you don't have fast funding. We promise to treat you like a partner, and work fast to help you get funding.
We're a growth focused private money lender. That means we work fast to fund your deal, and there's no limits on what we can do for you.
Residential refinance in Los Angeles, with a loan amount of $830k, at 75% LTV. We were able to help the investor get a loan at 8.99% with a balloon payment after 18 months.
Delancey Street funded a new residential purchase in California, for $1.2 million with 82% LTV. We helped the developer with a loan at 11% with a balloon payment in 9 months.
On the other hand, we denounce with righteous indignation and dislike men who are so beguiled and demoralized by the charms of pleasure of the moment, so blinded by desire.
Private money lenders often provide a bridge over troubled waters. When homeowners face the prospect of foreclosure, a private money loan can save their homes. Considering the amount of money the typical San Jose homeowner has invested in their real estate, a private money loan can be a godsend.
Rising housing prices are great news for Bay Area homeowners. Household net worth continues to rise, fueled by a robust local economy. This means lots of jobs and lots of growth. It also means that homes are easy to sell.
For homeowners in distress, this provides little consolation. When you are facing foreclosure and cannot afford to sell the property, or if your lender has already started the foreclosure process and you are trapped in default, it doesn’t matter how much property values are escalating. You are still facing the prospect of your most valuable investment being sold out from under you.
Private money lenders get you out of foreclosure, so you can keep your house
The great news for San Jose borrowers in foreclosure is that the rising real estate market makes it possible to obtain a private money loan at attractive terms. Private money lenders provide financing to distressed homeowners, even if they have received a Notice of Default, and foreclosure proceedings are underway. If your mortgage has fallen into arrears, you can get a private money loan that pays off your current lender and gives you the opportunity to recover.
Save your equity
If you have built up equity in your home through years of hard work, don’t lose it to foreclosure. When the bank takes your home, it sells it for its own benefit, not yours. All the bank wants is to auction your home as soon as possible to get its money. This means your home can be sold below market value, allowing someone else to scoop the equity you built. Worse, the bank may even sell it for less than you owe, and then hold you responsible for the difference.
Stop foreclosure right now through a private money loan
Private money loans are based on the value of your home, not your credit score. The bottom line with private money loans is that if your property has sufficient equity, you can be approved, even if your credit rating has been severely damaged. You can also be approved if you have lost your source of income or if your income has diminished due to a change in circumstances.
Private money loan approvals are asset based rather than credit and income based. If you have equity, your home is worth saving. If you have equity, you can obtain a private money loan.
How it works
Private money lenders are people just like you. They have money to invest and face none of the constraints of retail banks. Retail loan officers must base their decisions on a matrix that looks at credit score, income, mortgage payment history, and property value. Even if you owe $200,000 on a home worth $300,000, they reject your loan if it doesn’t fit all of their criteria.
Private lenders, also known as hard money lenders, look at property value. Generally speaking, hard money lenders are willing to loan up to 80 percent of the value of a home. Since a homeowner who owes $200,000 on a $300,000 property needs only 66 percent of the property value, he or she most likely qualifies for a hard money loan, regardless of credit score of if in foreclosure.
In this scenario, the borrower could get out of foreclosure by taking out a hard money loan and paying off the foreclosing lender, saving the $100,000 in equity. The borrower then can either refinance the loan or sell the property. Either way, the borrower keeps his or her equity.
If you are facing hard times, a hard money loan can provide a bridge to see you through. It can take an enormous weight off your shoulders and give you the opportunity to keep your home. A private money loan buys you the time you need to preserve your real estate investment’s value.
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