Gelt Financial

About Gelt Financial

Gelt Financial since 1989 is a direct private money lender. Focusing Investment and small business mortgages in 42 states. We put a heavy focus on collateral and make storied and time sensitive deals. Our borrowers and mortgage brokers will always deal with the decision makers. We offer loans for many different situations and needs, including rental property loans, private commercial loans, fix-and-flip hard money loans, hard money bridge loans, Debtor in possession, No income verification, foreclosure bail out and cash out loans. We also provide capital for JV equity, Mezz, Seconds, and pref equity. Loan amounts ranging from $100,000 to $3,000,000

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans, Hard Money Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Mixed Use, Warehouse, Industrial

Areas Served: AR, AL, AK, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY

Lending Guidelines for Gelt Financial

Below are the general loan guidelines published on the Gelt Financial website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Gelt Financial.

Loan Example 1

Joe takes a fix and flip loan from Gelt Financial in order to rehab a house to resale in Philadelphia, PA. The sales price of the house is $250,000. The lender agrees to write a note with a 85% loan to value (LTV) so they are willing to loan $212,500 on the house. The rate on the loan is 12% for a term of 12 months and the lender requires a five point origination fee at the closing. The interest is to be paid monthly and the principle amount will be returned after the sale of the property.

By the parameters of the loan, Joe will have to contribute a $10,625 origination fee plus 15% of the sales price, or $37,500, based on the 85% LTV. After the loan closes, he will pay Gelt Financial $2,125 in monthly interest payments, or 12% multiplied by $212,500 divided by 12 months in a year. Joe's plan is to finish the house within the 12 months and sell it for $375,000. If he succeeds he will make a gross profit of $88,875 ($375,000 sales price - $212,500 principle amount - $37,500 down payment - $10,625 origination fee - $25,500 in interest.

Loan Example 2

Daphne finds a townhouse in Philadelphia, PA to renovate and re-sell. Because she does not have enough cash to buy the property outright, she takes a fix and flip loan from Gelt Financial with the following parameters:

a) A $160,000 sales price, b) a 55% loan to value (LTV), c) a 12 month term, d) a 13% interest rate, and e) a 4% origination fee.

Based on a $192,000 sales price after the 12 month term, the outcome for the project would look like the following:

$192,000 sales price
- $88,000 principle on note (55% LTV)
- $72,000 cash paid at closing (45% on 55% LTV)
- $3,520 origination fee (4% of the $88,000 principle)
- $11,440 total interest paid (12 months x 13% interest)
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= $17,040 total profit (doesn't include taxes or renovation costs)