Gelt Financial, LLC – Private Lender Link

Creative Private Lender for Investment Real Estate

Gelt Financial is a direct portfolio lender based in South Florida. We have been in business since 1989, offering non-bank loans for commercial and residential real estate investors. Deal direct with the decision makers who can approve and close your loan fast. No loan committees. We are common sense private lenders. In it’s lifetime, Gelt Financial has closed over 10,000 loans. Gelt does not shy away from complicated and difficult financing situations. We are eager and confident to tackle any obstacle that comes our way.

Deal directly with the decision makers
Credit problems understood
No income verification
Fast approvals and closings
Flexible lending to meet your needs
Collateral based
Mezzanine and Subordinated Debt
Preferred Equity and Partnership Programs
Foreclosure or Debtor in Possession OK
No look back on previous foreclosures or BK
Non-recourse lending
Mortgage brokers are protected

Please note: we do not offer loans for land, ground-up construction or owner-occupied homes.

Property Geographic Area Details

All states except AK, CA, HI, NV, OR

Loan Amounts

$100,000 to $5,000,000

Interest Rates

9.5% to 13%

Loan Terms

12 months to 60 months

Origination Fees

2% to 5%

Lien Position

1st, 2nd, 3rd, 4th

Collateral Types

Residential Property
Commercial Property
Commercial Property Ground Lease

Loan Purpose

Investment Acquisition
Investment Refinance
Improve Subject Property
Use Equity to Invest in Another Property
Value Add Project

Property Occupancy

Vacant
Tenant Occupied 100%
Owner Occupied Commercial

Maximum Leverage

Purchase Short-Term (no Value-Add):

Max LTP Residential: 100%

Max LTP Multifamily: 100%

Max LTP Land: 100%

Max CLTP Mezzanine: 85%

Max CLTP Pref Equity: 100%

Refinance Short-Term (no Cash Out)

Max LTV 1st Lien Residential: 70%

Max LTV 1st Lien Multifamily: 75%

Max CLTV 2nd Lien Multifamily: 80%

Max LTV 1st Lien Commercial: 70%

Max CLTV 2nd Lien Commercial: 75%

Refinance & Cash Out Short-Term

Max LTV 1st Lien Residential: 65%

Max LTV 1st Lien Multifamily: 65%

Max CLTV 2nd Lien Multifamily: 75%

Max LTV 1st Lien Commercial: 70%

Max CLTV 2nd Lien Commercial: 75%

Multifamily Value-Add

Max LTP: 100%

Max LTC: 100%

Max LTARV: 75%

Commercial Value-Add

Max LTP: 100%

Max LTARV: 65%

Property Types

2-4 Units Residential
Car Wash
Child Day Care
Commercial Condominium
Condominium
Gas Station
Hotel
Industrial
Manufactured Home
Mixed-Use
Mobile Home
Mobile Home Park
Motel
Multifamily
Office
Parking Garage
Portfolio of Commercial Properties
Portfolio of Residential Properties
Retail
School
Single Family Residence
Storage Facility
Student Housing

Loan Types

Private Money
Hard Money
Commercial Bridge
Residential Bridge
Commercial Property Value Add
Mezzanine
Preferred Equity

Specialty Loan Types

2nd Mortgage Equity Cash Out
3rd Mortgage Equity Cash Out
Bankruptcy Resolution
Cannabis Use Properties
Commercial Permanent Financing
Condo Conversion
Debtor in Possession
Discounted Note Payoff
Foreclosure Bailout
Note Purchase
Partner Buyout
Primary Residence Business Purpose Cash Out
TIC Tenancy-in-Common

Junior Lien Loan Amounts

$500,000 to $10,000,000

Junior Lien Interest Rates

12% to 20%

Junior Lien Loan-to-Value

85%

Junior Lien Loan-to-Cost

100%

We Fund Junior Position Loans

Often

Junior Lien Types

Purchase
Refinance
Equity Cash Out
Mezzanine
Preferred Equity

We offer junior mortgages and have a lot of flexibility in the structure and pricing. This is available on commercial or multi family properties.

Max Loan-to-Purchase Price

100%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

Will Consider Lending on Purchase from Auction

Allowed Source of Borrower’s Equity

Own Cash
Partner
Equity in Subject Property
Equity in Another Investment Property
Seller Financing
Gap Lender

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

100%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

Legal Fee

Actual outside attorney costs

Appraisal Fee

Actual appraisal fee

Minimum Origination Fee Amount

$5,000

Fees which are mandatory for all new borrower clients

Due Diligence Fee

Fees which are paid to a third party company

Legal Fee
Appraisal Fee
Title Fee

Details and Requirements

Typical Closing Time (Days)

Fastest Closing Time (Days)

Payment Structure

Interest Only

Pre Payment Penalty

yes

Typically 9-month lock-out but are flexible

Will lend to a foreign national

yes

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

yes

We do JV equity deals on stabilized or value add situations on Multi family or commercial real estate

Borrower Entity Types Considered

Individual(s)
LLC
Limited Partnership
Trust
Corporation
Non-Profit Corporation
Self-Directed IRA

Documentation Required

Credit Report
Tax Returns
Bank Statements
Financial Statements
Loan Application

Personal Guaranty (Recourse) Required

Sometimes
We will do non recourse deals

Credit Check Required

yes

Credit Check Description

No minimum credit score required

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Sometimes

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Sometimes

00:24:16

Mortgage Brokers Introduction to Gelt Financial and our products

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Gelt Financial, LLC (“Gelt”) is a Balance Sheet commercial lender satisfying its clients financial needs and goals since 1989. Gelt’s robust commercial product offerings are available across the country to US Citizens and Foreign Nationals. We focus on loans between $100,000 and $5 million. We also have a portfolio product which we offer to real estate investors and commercial property owners, including Bridge loans, foreclosure bailout’s, no income verification , property only verification, foreign nation loans, no appraisal and non recourse loans, JV Equity, Pre Equity as well as Mezz and loans with credit problems. We offer preferred equity and recapitalization’s to existing commercial real estate partnerships. “When your Bank says no, We say YES!”

Year Established

1989

Office Locations

5300 West Atlantic Avenue, Suite 205, Delray Beach, Florida 33484

Primary Capital Source

Own Funds
Individual Investors
Family Offices

Alternative Capital Sources

Individual Investors
Family Offices
Private Equity Funds

Loan Structure for Majority of Loans

Own Balance Sheet

Percentage of Loans Secured by Commercial Property

80%

Percentage of Loans Secured by Residential Property

20%

Total Number of Loans Funded to Date

11000

Total Loan Volume Funded to Date

$1,000,000,000

Our Team

Jack Miller

President & Founder

Marcy Berger

Underwriter

Michael Kelman

Business Development

Noah Miller

Vice President

Funded Deals

Gelt Financial

Toledo, OH

$1,700,000

Office

Purchase