ACQUISITION, NEW CONSTRUCTION,
REHAB AND REFINANCE

Direct Mortgage Loan Company is a private lender specializing in fixed-rate, bridge financing for real estate developers and investors in Philadelphia, Southeastern, PA and New Jersey. Our operation is built for speed and ease of capital®.

The “Soft” Hard Money Lender®

At Direct Mortgage Loan Company, we lend on acquisition, rehab projects and new construction. We lend on single-family, multifamily, mixed-use and commercial property, and raw land - pretty much any scenario where the funds can be collateralized by real estate and used for business/investment purposes. We are different from the average hard money lender in that we are not merely asset based. We consider the full picture - credit, liquidity, experience and LTV/LTARV. We look for ways to make difficult transactions work, while at the same time making good, sound loans. We look for borrowers that are able to have cash and/or collateral in the transaction, and for projects that will make sense for the borrower. We build relationships that outlast any single transaction.

Founding Partner Robert (Bob) J. Elfant and President and Managing Partner Jared E. Pontz.

Our Story

Founded in 1956, we have funded thousands of development projects and investment properties in and around Philadelphia -- more than 1,000 loans totaling approximately $250MM in the last five years alone. The owners have decades of experience in all aspects of Philadelphia real estate. President and managing partner, Jared E. Pontz is an active investor, and has developed a range of single, mixed-use and multifamily projects. Founding partner Robert “Bob” Elfant is also a founder of Elfant Wissahickon Realtors, the region’s leading independent brokerage. Together they own and operate Elfant Pontz Properties, a property management and development company responsible for over 600 rental units in Northwest Philadelphia. Read more about our team here.

Speed and Ease of Capital®

At Direct, there is no middle man. Our operation is built for speed and ease of capital®. We save you time at all phases of the process, which saves you energy at all phases of the project, which saves you money at all phases of the investment. We use simple documents. We have fast underwriting. We’re flexible and creative. Most importantly, we are honest and fair. We operate a smooth and clean operation with total transparency. There are no hidden charges or prepayment penalties. We do our own analysis of value (no third party appraisal required for most loans under $500,000) and handle draw inspections in house.

Feet on The Street®

DMLC has, quite literally, been around the block a few times since its founding in 1956. Through it all we’ve kept our feet on the street® - personally meeting every single client and inspecting every single property. We are 100% locally based, and we do our own analysis of value and handle draw inspections in-house. We have a thorough understanding of Philadelphia real estate with all its quirks and nuance. We are a true “relationship lender.” After a one-time due diligence our transactions are based on the existing relationship.

A Little Different, A Big Difference™

At Direct, we do a lot if little things differently that add up to a big difference for our clients who return to us again and again because we help them grow their business and their wealth. Our philosophy is simple: our success depends on our clients’ success.

FAQs

  • Very fast. Typically in under 2 weeks if needed. Our current and returning clients close even faster. In order to settle, we must, at a minimum, inspect the property, meet the borrower and get title insurance. Our office typically requires a minimum of two business days from receipt of marked up (clear) title to schedule your appointment for closing.

  • No, but we have a minimum origination fee of $3,000. We typically advise not borrowing less than $25,000. Our max is usually around $2,000,000 with exceptions.

  • We lend on property in Philadelphia, Southeastern Pennsylvania and New Jersey. Generally, we want the property to be within a one-hour drive of Center City Philadelphia with exceptions in New Jersey and elsewhere.


  • We charge a flat mortgage placement fee, no legal, no doc prep, and typically, no third party appraisal. Normal title and closing fees are required. There are no hidden costs. We prepare a loan proposal outlining all loan related details so that you have all of the information in advance. Contact us for our current rates and fees.

  • We don’t have a minimum credit score, but good credit is required. We analyze credit on a case-by-case basis. We consider the bigger picture.

  • We offer interest-only and amortizing loans. All loans are short term (usually between 4-15 months) and all fixed-rate.

  • What lien position is required?

    First position is required on all acquired real estate. Secondary positions, depending on first mortgage balance, are possible when property is serving as additional collateral or being refinanced.

  • Typically 75% LTV or 70% LTARV, but we offer various ratios from 50%-100+%. It depends on the borrower and the scenario.

  • We disburse the draw money based on a pre-closing agreement between lender and borrower. We will release the money in stages based upon the completion of the work. We pay out in arrears upon completion of the various stages and base your monthly payments only on the funds disbursed. Draws are inspected in-house and typically funded in between 1-3 business days (with exceptions).

  • There are NO hidden charges and no prepayment penalties.

  • Yes, we lend to corporations, LLC’s, limited partnerships, and individuals. That said, personal guarantees are required on all loans.

  • Communication is key! Call us and we will try to work with you.