Frequently Asked Questions

Got Questions? We have answers!

Do you offer business or personal loans?2019-01-06T17:28:07-05:00

We offer business and investment mortgage loans on real estate. We do not offer owner-occupied residential or personal loans.

How do I make a payment?2019-12-31T11:44:48-05:00

You can mail us a check, pay online through your bank’s bill pay or wire us the funds.

What to do if I can’t make a payment?2023-09-12T11:43:38-04:00

Call us at 561-221-0900. Communication is critical.

What’s your mortgage clause on my property2019-12-31T11:43:47-05:00

Gelt Financial, LLC ISAOA 5300 W Atlantic Ave, Suite 205, Delray Beach, FL 33484

How do I request a draw2019-02-11T14:52:29-05:00

Send us an email with a draw request and pictures of the progress on the property. Please make sure to allow enough time for us to do an inspection.

How do I request a payoff statement?2019-02-11T14:59:38-05:00

Contact us at least 5 days prior to the payoff date

What to do If I can’t pay the mortgage by the maturity or balloon date2019-12-31T11:46:18-05:00

Let us know and request we extend the loan for you.

Do I need a mortgage satisfaction for an old loan that was paid off?2019-02-11T14:53:12-05:00

Contact us at and please send a copy of the mortgage and or title policy with your contact information.

How does the financing process begin?2019-02-11T14:59:30-05:00

The process begins by filling out the form at the top of this page and speaking to one of our experienced loan officers. From there we can determine the best way of moving forward.

Does Gelt handle difficult financing?2020-08-29T07:52:31-04:00

Gelt Financial is not intimidated to handle the complicated and messy financing deals. Gelt’s vast experience allows us to handle difficult deals that most others can’t.

What collateral can be financed on?2020-08-29T07:54:36-04:00

Gelt Financial keeps an open mind on deals with a wide array of different collateral. The most common types are: Single Family Rehab or Investment, Multi-Family, Office, Retail, Industrial, Self-Storage, Single Tenant, and Mixed-Use.

Is verifiable income required?2019-02-11T14:59:08-05:00

Gelt Financial is a common sense underwriter that looks for financials that make sense. We enjoy working with storied and value added properties.

Any type of credit requirements?2019-02-11T14:59:01-05:00

Gelt Financial has no credit score requirements or minimums and provides common sense and “storied” underwriting to secure financing for even low credit scores. Gelt prides itself on flexibility.

Length of time to obtain financing?2020-08-29T07:53:45-04:00

Gelt tries to work around the borrower’s needs and goals, we try to move very fast when the need is there. We have closed deals in a week.

Why Gelt Financial compared to a bank?2020-08-29T07:56:44-04:00

Gelt is a non-bank lender and does not have the restrictions that banks have, we are creative and flexible as well move fast.

How long for my closing?2019-04-22T14:59:11-04:00

We can move very fast, it really depends on your time frame and we work to meet your needs.

Bad credit? Credit problems?2023-10-02T16:21:02-04:00

We understand credit problems and challenges we work around them and focus on the future and the property. Credit problems are understood.

I don’t have good credit, will that prevent me from getting a mortgage?2023-10-02T16:21:01-04:00

While every deal is different, being a non-bank lender, most of our borrowers have or had credit issues, therefore, we focus on the future and on the property.

What if I can’t verify my income?2023-10-02T16:21:00-04:00

That’s ok, we understand that and have programs designed for this.

Can I still get a mortgage with a bankruptcy on my record?2023-10-02T16:21:00-04:00

Yes, this is one part of many parts of the deal, we look at the total situation.

Can I still get a mortgage with a foreclosure on my record?2023-10-02T16:20:59-04:00

Yes, this is one part of many parts of the deal, we look at the total situation.

What if my property is in foreclosure now?2023-10-02T16:20:58-04:00

Yes, we have foreclosure buy out programs!

How much of a down payment do I need?2023-10-02T16:20:57-04:00

It depends on the situation, we are collateral driven and focus on the value of the collateral, as well we allow our borrowers to use other real estate they own instead of a down payment.

Who services your loan?2023-10-02T16:20:57-04:00

We do, you will be dealing with the same people.

I am in bankruptcy now, can I get a loan?2023-10-02T16:20:56-04:00

We are very active in the debtor in possession chapter 11 space doing loans in bankruptcy or as exit financing.

Do you lend nationwide?2020-12-28T10:03:21-05:00

We lend in all states except CA, NC, OR, AZ, NV, AK and HI.

Are you a direct lender?2019-02-11T14:58:38-05:00

Yes, we are, which means you get to speak directly with the decision makers and they get to listen to you. It gives us a lot of flexibility in structuring deals that meet our borrower’s needs.

How long does it take to get an approval?2019-04-22T14:57:35-04:00

Once we have the application, credit, and a summary, most approvals take a few hours.

Do I have to pay a fee in order to get an approval?2019-02-11T14:58:14-05:00


What is your normal turnaround time to close a loan?2019-02-11T14:58:07-05:00

While every loan is different, most loans close in 30 days or less.

What are your minimum and maximum loan amounts?2020-09-05T17:21:29-04:00

Are normal loan mortgage starts $100,000.00 minimum amount and no maximum amount.

We do have commercial and investment real estate mortgages starting at $25,000.00

Do I have to show personal tax returns or proof of income in order to get a loan?2019-01-06T14:18:16-05:00

We have non-income verification programs available as well as limited documentation programs available. We use common sense when looking at loans and realize that sometimes all the paperwork is not in order.

Do I need good credit to qualify for a loan?2020-08-29T07:51:19-04:00

We use common sense underwriting, and understand that people have ups and downs, we take everything into consideration and are not afraid of bad previous credit.

Can I close in the name of my entity or LLC?2019-01-06T14:19:40-05:00

Yes, of course.

If I have a recent bankruptcy can I still get a loan?2019-01-06T19:12:05-05:00

Ye, you can, in fact, we also lending to people and companies in bankruptcy.

Do you work with brokers?2019-01-06T19:12:57-05:00

We have been working with mortgage brokers since 1989.

Do you service the loans you close?2019-01-06T19:13:47-05:00

We do and you will be dealing with the same people who make the loan. Your not just an account number to us.

Do I have to be signed up with Gelt as a broker to close a loan?2019-01-06T19:14:42-05:00

No, just send us an application, credit and loan summary.

What are the benefits to coming to Gelt?2019-04-22T14:54:50-04:00

Gelt has been providing mortgage’s and the capital needed to the real estate investors since 1989, when you deal with Gelt you deal with the decision maker who will give you the straight story upfront, At Gelt most of the deals we approve we work out the terms right on the phone with our borrowers and then within a few hours issue a term sheet with all the details listed in easy to read language.

How much of a down payment is needed?2019-01-06T22:36:26-05:00

It really all depends on the deal, there are no hard and fast rules. As an example, if you own other real estate properties, we might be able to use that instead of a down payment. If you’re buying the property at a big discount, a down payment might not be needed. We are flexible.

What does a no-doc loan mean?2019-04-22T15:13:03-04:00

We are flexible with the documents and as long as we are comfortable, we don’t need a lot of documentation.

Why would someone use a bridge lender?2019-04-22T15:14:14-04:00

We provide the opportunity to either save money or make money using our financing. Usually, they use a bridge loan for a short time to take advantage of a situation to get them out of trouble.

Are you a hard money lender?2023-08-16T18:04:12-04:00

Everyone has a different definition of what is a hard money loan or lender is and it’s always changing. We are a private portfolio lender doing deals that provide people with the financing they need. I would say we offer hard money programs.

Are your rates higher than a bank?2020-09-05T17:19:39-04:00

Yes they are, we have a lot of flexibility and we use a risk-reward pricing model, as well many factors weigh in such as load size, documentation, and the length of the loan. It’s all relative. If we’re providing financing on a deal that the borrower is going to make hundreds of thousands of dollars, he might think we are cheap. We are more expensive then banks, but there are a lot of factors that go into our pricing.

Do you require seasoning?2019-02-11T14:45:06-05:00

No, we do not. We look at every request on an individual basis.

Do you have a minimum credit score?2020-08-29T07:52:17-04:00

No, we are not credit score driven. We look at the complete picture.

Do you lend on land?2019-02-11T14:43:17-05:00

Sorry, we do not.

Do you do construction lending?2019-02-11T14:43:02-05:00

Sorry, we do not.

Do you do foreclosure bailout loans?2019-02-11T14:42:45-05:00

Yes, we do. We understand that things happen in life and are always looking to the future.

Do you lend on discount note purchases?2019-02-11T14:40:57-05:00

Yes, we do. We are opportunity lenders and have been lending on discount note purchases for years.

I received my insurance or real estate tax bill and Gelt is escrowing the funds to pay this2023-10-02T16:20:55-04:00

As soon as you received the bill send it to our servicing department the bills and we will pay it?

What do I do if my homeowners Insurance or taxes increased?2023-10-02T16:20:54-04:00

Please send us the new bills and we will adjust your monthly escrow if we are escrowing for the loan.

I need to change my contact information2023-10-02T16:20:53-04:00

Please send us your new contact information and we will update our records.

Do I need to be approved with Gelt?2023-10-02T16:20:53-04:00

No, feel free to start running deals by us, because we lend on commercial and investment properties there is no formal approval process.

What do I need to submit a deal?2023-10-02T16:20:52-04:00

You can call us and run the deal verbally by us or email it to us. It’s best to start with a complete 1003 or Personal financial statement, credit, and summary of the loan. If it’s an income-producing property, a rent roll and income and expense statement is a big help.

What types of properties won’t you do?2023-10-02T16:20:51-04:00

We do not lend on land, construction lending, farms, rural properties or assisted living facilities.

Do you protect my points?2023-10-02T16:20:50-04:00

Prior to us issuing a term sheet we will ask the broker how many points they are charging, we put the broker and their points right on our term sheet and the title company will pay the broker directly from closing.

Do I need a license to deal with Gelt?2023-10-02T16:20:49-04:00


Who does the processing?2023-10-02T16:20:48-04:00

Our team at Gelt Financial does, keeping you informed every step of the way.

How long does it take to approve a deal?2023-10-02T16:20:47-04:00

We move fast if we get what we need and a good understanding of the deal. We try to approve it and issue a term sheet within an hour or so.

How long does it take to close a deal?2023-10-02T16:20:46-04:00

We try to work with the borrower’s needs. Every deal is different depending on if we need an appraisal or not. If we don’t, it can be 5-10 days. If we do, sometimes appraisals are running a few weeks.

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