Where We Lend

Hard Money Lenders in Delaware

Bridge loans for the flip. A 30-year DSCR loan for the rental.

We are private money lenders in Delaware, lending in all three counties to entities on non-owner-occupied property. Pimlico Capital is the direct lender on the loan. We underwrite in house and fund with our own money, so nothing goes out to a third party for a second approval.

Get a Quote for a Delaware Deal Call (410) 855-4600

Wilmington, Delaware riverfront at sunset

$600M+Deployed across MD & the East Coast

All 3Delaware counties served

$75K – $3MBridge loan size

Loan Products Available in Delaware

What We Fund Here

Both of our core products are available in all three Delaware counties to investors and entities (LLCs, corps, trusts). No owner-occupied loans.

Short-term

Bridge & Fix-and-Flip

Up to 90% of purchase, 100% of rehab
6–12 month terms, extensions available
Close in as little as 5–7 business days
$75K minimum, $3M maximum

Bridge loan details →

Long-term

30-Year Rental (DSCR)

Up to 80% LTV on purchase or rate & term refi
30-year fixed amortization
No personal income documentation
$75K – $1.5M per property, portfolio loans available

DSCR rental details →

Bridge to DSCR

Both halves of the deal, from one lender

We fund the purchase and the rehab on a hard money bridge loan. When the work is finished and the property is rented, we refinance it onto a 30-year DSCR loan. By then we have already seen the property, the scope and the invoices, so the refinance does not start from a blank page.

A DSCR loan qualifies on the property's rent, not on your tax returns. We measure what the unit brings in against the payment, the taxes, the insurance and any association dues. The rental program runs across the whole state, so a Sussex County landlord and a Wilmington landlord get the same program. Terms are on the 30-year DSCR rental loan page, and our look at Mid-Atlantic rental yields covers how the region is penciling out.

One underwriter reads the file from the first call to the closing table. You are not handing the deal to a queue.

Where We Lend

Where we lend in Delaware

Both products are available in all three counties, to entities, on non-owner-occupied property. We also lend across Maryland and Pennsylvania.

New Castle County

Kent County

Sussex County

Local Rules

What's important to know about Delaware deals

Five rules that catch investors here.

Transfer tax is 4% of the price, and half of it is the buyer's. The state takes 2.5% and the county or town takes 1.5%. The statute splits the bill between buyer and seller unless the contract says otherwise, so a $500,000 purchase costs the buyer $10,000 at the table.
Every foreclosure goes through a court. Delaware has no power of sale, so a lender takes the mortgage to the Superior Court and only a judge can turn it into title. An uncontested case runs about five to six months from filing to a confirmed sale.
Rental licensing is set by the town, not the state. There is no statewide license. Wilmington licenses every year and inspects on a cycle, unincorporated New Castle County wants a free registration, and Dover issues a permit that expires each January. Ask the municipality before you close.
Short-term rentals pay a 4.5% state lodging tax, and beach towns add their own. It applies to stays of 31 consecutive nights or fewer. If the booking comes through a platform, the platform collects it. Rehoboth, Bethany and Lewes each license rentals and charge a local rate on top.
Delaware charges no sales tax, so rehab materials are untaxed. The state taxes the contractor instead. A builder pays gross receipts tax on construction revenue above a monthly exclusion, and that cost is already inside the price you are quoted.

See more information on the following sites:

Common Questions

Delaware Lending FAQ

Do you lend in Wilmington?

Yes. We lend in all three Delaware counties, including Wilmington, to entities on non-owner-occupied property. Wilmington also runs an annual residential rental license with periodic inspections, so plan for that on the operating side.

How much is the Delaware transfer tax and who pays it?

The realty transfer tax is 4% of the value of the property, 2.5% to the state and 1.5% to the county or town. The statute splits it evenly between grantor and grantee unless the contract says otherwise, so on a $500,000 purchase the buyer's half is $10,000. There is a first-time home buyer reduction worth at most $2,000, and a buyer taking title in an LLC does not qualify for it.

How fast can you close in Delaware?

Bridge loans usually close in 5 to 10 business days, faster when a deal needs it. A 30-year DSCR loan takes 3 to 4 weeks because of the appraisal and the title work.

Can you fund the renovation as well as the purchase?

Yes. Our bridge loan covers the purchase and the renovation in a single loan, so you are not arranging rehab money separately.

Who can borrow from you in Delaware?

We lend to entities, so an LLC, a corporation or a trust, and only on non-owner-occupied property. That is the same in all three counties.

Is there a loan minimum in Delaware?

Both programs start at a $75K loan amount. Bridge runs to $3M per deal, and DSCR runs to $1.5M per property with portfolio loans available.

How It Works