Frequently Asked Questions

Got Questions? We have answers!

Are there any pre-payment penalties?2023-10-03T09:21:55-04:00

Yes, we typically require a minimum of 6-12 months of interest payments.

Are there any upfront fees?2023-10-03T09:21:54-04:00

We require an upfront due diligence fee after the term sheet is signed. The remaining fees are due at the time of closing.

Are you a direct lender?2023-10-03T09:22:14-04:00

Yes, we are a direct lender. This means you speak with the decision-makers. This gives us flexibility with structuring deals that meet our borrowers’ needs.

Are your rates higher than a bank?2023-10-03T09:22:12-04:00

Yes, our rates are typically higher than bank rates but we offer programs that banks do not offer.

Can Gelt close in the name of my entity or LLC?2023-10-03T09:21:54-04:00


Can I receive a referral fee for notes?2023-10-03T09:21:40-04:00

Yes, we will pay your requested referral fee.

Do I have to pay a fee in order to get an approval?2023-10-03T09:22:08-04:00

No, there is not an approval fee.

Do I have to sign up with Gelt Financial?2023-10-03T09:21:52-04:00

No, please reach out to us anytime with a loan summary. If possible, please email us an application with documentation.

Do I need proof of mortgage satisfaction for an old loan that was paid off?2023-10-03T09:21:46-04:00

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

Do you buy performing notes?2023-10-03T09:21:43-04:00

Yes, we buy performing notes if their rates are in the mid-teens.

Do you help with bankruptcies?2023-10-03T09:21:39-04:00

Yes, we are very experienced with bankruptcy and helping those in bankruptcy. We have years of experience in capital restructuring, are active in debtor-in-possession financing, exit financing, and capital infusion that involve Chapter 11.

Do you help with foreclosures?2024-03-29T08:54:10-04:00

Yes, we can help those in foreclosure. These loans are called ‘foreclosure bailout’ and we specialize in them.

Do you lend on discounted note purchases or offer note-on-note financing?2023-10-03T09:21:58-04:00

Yes, we do!

Do you lend on land?2023-10-03T09:22:18-04:00

Only in South Florida.

Do you lend on owner-occupied residences?2023-10-03T09:22:00-04:00

Sorry, we only lend on non-owner-occupied residences.

Do you lend on value-add properties?2023-10-03T09:21:57-04:00

Yes, we do!

Do you offer construction loans?2023-10-03T09:21:59-04:00

Only in South Florida.

Do you provide fix-and-flip or rehab loans?2023-10-03T09:21:59-04:00

Yes and we can fund the rehab in draws.

Do you provide no-doc loans?2023-10-03T09:22:11-04:00

Yes, we offer “no doc” and “limited documentation” loans

Do you require an appraisal?2023-10-03T09:22:07-04:00

No, they are not required, but we are willing to review them.

Do you require an inspection?2023-10-03T09:22:06-04:00

Yes, we order an inspection during the due diligence process.

Do you require seasoning?2023-10-03T09:22:18-04:00

No, we do not.

Do you require tax returns or proof of income?2023-10-03T09:22:04-04:00

Not always. We have non-income verification programs available, as well as limited documentation programs available.

Do you work with mortgage brokers?2023-10-03T09:21:53-04:00

We have been working with mortgage brokers since 1989. We love working with mortgage brokers and pride ourselves on being mortgage broker friendly.

Does Gelt Financial pay PAR on their notes?2023-10-03T09:21:42-04:00

Yes, we will consider paying PAR when notes are under 65% LTV.

How do I change my contact information?2023-10-03T09:21:47-04:00

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

How do I get paid?2023-10-03T09:21:51-04:00

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

How do I make a payment?2023-10-03T09:22:20-04:00

We accept payment through the following methods:

  • You can mail us a check.
  • Pay online through your bank’s bill pay
  • Wire us the funds
How do I request a draw?2023-10-03T09:22:20-04:00

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?2023-10-03T09:22:19-04:00

Please contact us at least 5 days prior to the payoff date.

How do I start?2023-10-03T09:22:09-04:00

Please begin with one of the following:

How long are your loans?2023-10-03T09:21:56-04:00

We offer loan terms between 6 months and 5 years.

How long does it take Gelt to close on these purchases?2023-10-03T09:21:40-04:00

We can close in under 2 weeks.

How long does it take to get an approval?2023-10-03T09:22:09-04:00

We provide approvals on each of our submissions within 24 hours.

How much of a down payment do I need?2023-10-03T09:22:17-04:00

It depends on the situation. Our loans are collateral-driven and we focus on the value of the real estate. If necessary, we allow borrowers to use additional collateral instead of a down payment.

If Gelt is escrowing the funds for insurance and taxes, why did I receive a bill?2023-10-03T09:21:47-04:00

As owner of the property, you will still receive insurance and tax bills. As soon as you receive the bill, please send it to our servicing department.

Is there a maximum LTV on note purchases?2023-10-03T09:21:41-04:00

Yes, typically 65% loan-to-value.

Is there a minimum credit score requirement?2023-10-03T09:22:05-04:00

No, we don’t have a minimum credit score requirement. We do ask for a recent screenshot of your credit score.

Is there a minimum property value?2023-10-03T09:22:01-04:00

Yes, we require a minimum property value of $250,000.

What are the benefits of Gelt Financial?2023-10-03T09:22:12-04:00
  1. Same day approvals
  2. 10 day or less closings
  3. No appraisals required
  4. No minimum credit score
  5. You deal directly with us the entire time
What do I do if my homeowners insurance or taxes increased?2023-10-03T09:22:16-04:00

Please send us the new bills. If we are escrowing for taxes and insurance, we will adjust your monthly escrow payment.

What do I need to submit a deal?2023-10-03T09:22:15-04:00

You can call us at 561-221-0900, email us at or submit your loan request HERE. Please provide us with property information and borrower information so we can provide you a quote.

What is your minimum and maximum loan amount?2023-10-03T09:22:02-04:00
  • Minimum: $25,000
  • Maximum: $5,000,000
What is your normal turnaround time to close a loan?2023-10-03T09:22:07-04:00

While every loan is different, most loans close in 10 days or less.

What lien position notes do you buy?2023-10-03T09:21:43-04:00

We are primarily interested in 1st lien notes, but we are open to buying 2nd lien notes under the right circumstances.

What to do if I can’t make a payment?2023-10-03T09:21:48-04:00

If you can’t make a payment, please call or email us. We try to work with all of our borrowers.

What to do If I can’t pay the mortgage by the maturity or balloon date?2023-10-03T09:21:49-04:00

Please request an extension by phone or email.

What type of loans do we offer?2023-10-03T09:22:04-04:00

We offer loans on both commercial and residential-investment properties. We do not offer personal loans, unsecured business loans, or residential owner-occupied loans.

What types of notes do you not purchase?2023-10-03T09:21:44-04:00

We do not buy notes secured by land, rural properties, construction, development, heavy rehab, assisted living facilities, or specialty properties.

What types of notes do you purchase?2023-10-03T09:21:45-04:00

Just like our mortgages, note purchases must be secured by commercial assets like multifamily, retail, office, industrial, etc. We also buy residential-investment notes secured by single-family residences, apartments, townhomes, etc.

What types of property do we not lend on?2024-03-06T15:20:36-05:00

We do not lend on land, rural, construction, development, assisted living facilities, and specialty properties.

What’s your mortgage clause on my property?2023-10-03T09:21:50-04:00

Gelt Financial, LLC ISAOA 6401 Congress Ave Suite 215, Boca Raton, FL 33499

Where do you lend?2023-10-03T09:22:02-04:00

We lend in all states except AK, AZ, CA, HI, ID, MN, ND, NV, OR, SD, UT, VT

Who is Gelt Financial?2023-10-03T09:22:15-04:00

Since 1989, we have been a non-bank, private lender that currently serves 38 states. We have closed over $1 Billion of mortgages and provided financing for over 10,000 clients. We work with everyone and especially those who don’t qualify for traditional bank

Who services the loan after closing?2023-10-03T09:21:51-04:00

Gelt Financial services your loan after closing. You will be dealing with us the entire time.

Why choose Gelt Financial?2023-10-03T09:22:13-04:00

Gelt Financial offers private lending and hard money programs across the country on commercial real estate. We offer flexible terms, are able to close within just a few days and understanding of special situations.

Why would someone use a private lender?2023-10-03T09:22:10-04:00

Borrowers come to us because they have been turned down by banks or conventional lenders. Our borrowers need a lender that can close quickly and understand special situations.

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