Delaware is small, but its rehab market has three distinct parts: Wilmington row houses, Kent County ranches near Dover, and Sussex County beach-area homes. Each one asks something different of your loan and your budget.
In short: LendingStreet is our top pick for investors who would otherwise call a local hard money lender in Delaware. Three reasons stand out: closings in as little as 10 days, leverage up to 90% of cost with up to 100% of rehab on some programs, and a built-in path from a short-term loan to a 30-year DSCR rental loan. Rates start from 7.99%. It fits Delaware well because Wilmington, Dover and Sussex County each need a fast close and a rehab budget sized to the project.
LendingStreet is built for investors. We lend on non-owner-occupied 1-8 unit residential property across Delaware and the rest of the country, with fix and flip and bridge loans from $150,000 to $5M+ that are short-term and interest-only.
Flippers, rehab-to-rent investors and buyers racing a short closing date all use it. Borrowing in an LLC is standard.
The next step is simple: get a quote with the form below, or call (877) 298-1001.
Investors searching for hard money lenders often compare national names like CoreVest, Dominion Financial, LendingOne, Lima One and RCN Capital. Here is how LendingStreet stacks up on the scenarios that matter most for investors in Delaware. In every scenario below, LendingStreet is the best fit.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Fix and flip above $3M | LendingStreet | Our fix and flip program runs from $150,000 to $5M+. LendingOne states fix and flip loans up to $3,000,000, and RCN Capital states up to $2M. |
| Bridge close in about 10 days | LendingStreet | We can close in as little as 10 days. CoreVest states its bridge loans typically close within 2 to 4 weeks. |
| Flip of a 5-8 unit building | LendingStreet | We finance 1-8 unit investor properties. RCN Capital states its fix and flip loans cover 1-4 family homes, condos and townhomes. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Before you sign a term sheet, it helps to see how lender types differ in general. Terms at any specific local lender, private lender or bank vary, so treat this as a starting framework.
| What investors need | LendingStreet | Typical local hard money lender | Private individual lender | Local bank or credit union |
|---|---|---|---|---|
| Speed to close | As little as 10 days | Often fast; varies | Can be fast; depends on the person | Often slower; full underwriting |
| Leverage | Up to 90% of cost | Varies; often lower | Negotiated deal by deal | Often needs a larger down payment |
| Rehab funding | Up to 100% of rehab on some programs, paid in draws | Varies | Varies | Often limited on distressed homes |
| Loan size | $150,000 to $5M+ | Varies | Limited by one person's capital | Varies by bank |
| Long-term option | Refinance into a DSCR rental loan | Usually short-term only | Rarely | May offer; often needs tax returns |
| Where they lend | All 50 states and DC | Usually local | Usually local | Usually local |
In New Castle County, investors rehab row houses and twins in Wilmington neighborhoods such as Little Italy, Hilltop, the East Side and Browntown, plus suburban homes in Newark, New Castle and Bear. Proximity to Philadelphia supports commuter demand.
Kent County, centered on Dover and Smyrna, has ranches and split-levels with steady demand tied to state government and Dover Air Force Base. In Sussex County, Rehoboth Beach, Lewes, Millsboro and Seaford range from beach-area homes to rural properties.
Delaware forecloses through the courts, so the process takes longer than in many states, and investors often find deals through bank-owned listings and sheriff sales. The realty transfer tax is one of the larger closing costs, totaling up to about 4% of the price in many locations, and it is commonly split between buyer and seller.
Property taxes are low, partly because assessments were long out of date; the counties have reassessed, so confirm the current bill.
Treat these as general notes and confirm them locally with your title company or attorney.
Wilmington, Newark, Dover and the three counties each issue permits, and Wilmington requires rental licenses for rental units. Beach-area towns can have additional rules, including flood and coastal building requirements.
Rehab funds are released in draws as work is completed and inspected, which rewards a detailed budget.
This example is illustrative and not a quote. An investor buys a row house in Wilmington for $165,000 and budgets $60,000 for the rehab, a total cost of $225,000. At 90% of cost, the loan is $202,500, so the investor brings $22,500 plus about $9,000 in closing costs.
The estimated interest-only payment is about $1,772 a month, figured on the full balance for a conservative budget. Over 5 months that is about $8,860, plus about $1,750 in taxes and insurance, for an all-in cost of about $244,610.
Sale exit: at an after-repair value of $290,000 and about $23,200 in selling costs, the estimated profit is about $22,190 before income taxes.
Hold exit: a DSCR cash-out refinance at 75% of the $290,000 value is $218,000, enough to repay the $202,500 rehab loan with about $15,500 left before refinance closing costs. Estimated principal and interest is about $1,487; with $230 in taxes and $120 in insurance, the payment is about $1,837 against $1,950 in rent, a DSCR of about 1.06x.
| Item | Amount |
|---|---|
| Purchase price | $165,000 |
| Rehab budget | $60,000 |
| Loan at 90% of cost | $202,500 |
| Cash at purchase (down payment plus closing costs) | $31,500 |
| Estimated interest-only payment | $1,772 a month |
| Interest plus taxes and insurance, 5 months | $10,610 |
| After-repair value | $290,000 |
| Estimated profit on sale | $22,190 |
| DSCR at 75% refinance | About 1.06x |
A typical hard money loan is short-term only. If you decide to hold a Delaware property, you need a long-term lender, and lining one up late adds risk. LendingStreet offers the DSCR refinance too.
DSCR loans qualify on the property's rent, with no W-2s or tax returns. Cash-out goes up to 75% LTV and rate-and-term up to 80% on some programs, the standard minimum DSCR is 1.0x, the minimum credit score is 620, and 30-year terms are available. Seasoning varies by program; see our bridge-to-DSCR guide for timing.
Use these questions with any lender you are considering:
Have these items ready, then use the form below or call (877) 298-1001:
We recommend LendingStreet: hard money style speed, up to 90% LTC, rehab funding on some programs up to 100%, and a long-term DSCR exit in the same place.
Yes. LendingStreet lends across Delaware and in every other state and DC.
It can total up to about 4% of the price in many locations, often split between buyer and seller, so a flip can pay it twice: once when you buy and once when you sell. Confirm the rate for the town.
In as little as 10 days when the file is complete. A signed contract, rehab budget and LLC documents help us move quickly.
Yes. After the rehab, a DSCR loan can refinance it based on the rent. Wilmington requires a rental license, so plan for it.
Rates start from 7.99%. Your pricing depends on the property, leverage, budget and exit. Get a quote with the form below for your numbers.
Yes. A DSCR loan qualifies on the property's rent, with no W-2s or tax returns. Cash-out goes up to 75% LTV, and seasoning varies by program.
No. Our loans are business-purpose loans on non-owner-occupied investment property only.
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