Hey, are you in need of a quick loan that’ll help you meet your emergency financial needs? Try hard lenders. In Florida today, thousands of people are in need of loans for their real properties. However, there are several hard money lenders in Florida, especially in South Florida and Jacksonville. This article will discuss the list of hard money lenders in Florida and a few cities around it.
Before discussing Florida hard money lenders, let us take a brief look at who is a hard money lender.
Hard Money Lenders
As you know, hard money lenders are individuals who give hard money loans to people who need them for real properties. Hard money lenders are not the usual commercial banks that offer loans to individuals. They often give these loans only to people who have experience in real estate investment.
However, hard money lenders aren’t subject to the same regulations that traditional loan lenders are. Hence, they are free to make their own rules about what credit scores or debt-to-income ratios they want their borrowers to have.
Indeed, you can find a hard money lender who will give you a loan even if you’ve been denied by traditional lenders. They are not concerned with the borrower’s creditworthiness, but the value of the property being purchased.
Nevertheless, a hard money lender may loan on any type of non-owner-occupied real estate. However, they often prefer cases with a fairly quick exit strategy. Hence, they are assured of their payment by the end of the loan term.
Florida Hard Money Lender
Finding hard money lenders in Florida can be a tough and difficult task to do on your own. Again, the terms, requirements, fees, and restrictions for hard money loans differ from lender to lender. However, hard money lenders in Florida provide real estate investors funds that can help to finance a real property.
Truly, Florida’s hard money lenders in the real estate market are changing, and they are changing fast. Nevertheless, deals come and go quickly, hence borrowers need to make sure they have access to funds whenever they need them, not when the bank dictates. One of the benefits of Florida’s hard money lenders is their ability to quickly fund borrowers’ deals.
However, many real estate investors today have damaged credit, some are self-employed. So getting approval from a Florida hard money lender is not as easy as ABC. However, these investors need a significant down payment, and also a good chance to succeed in their investment projects.
Additionally, hard money lenders in Florida residential utilize an efficient and practical approach to underwriting that allows them to fund deals that banks cannot.
Jacksonville Florida Hard Money Lender
In Jacksonville Florida, there are several hard money lenders serving the city. In the city, the average note amount is $308,824. However, the median rate for hard money loans in Jacksonville is 10.2%. Also, the average term issued by hard money lenders in Jacksonville Florida is 25 months.
Furthermore, as mentioned earlier, there are several hard money lenders in Jacksonville Florida. So let us take a look at some of them. Also, it should be known that this list is not in any form of ranking and is only for informational purposes.
Global Capital City Funds
The Global capital city funds are Jacksonville Florida hard money lenders who offer commercial financing for real estate acquisition and land, among others. Their hard money lenders give loans for purchase, refinance, cash-out, investment rehab, and so on.
Capital Funding service
The capital funding service gives residential and commercial loans to people in Jacksonville Florida. They provide funds whether secured or unsecured loans, even if you have good or bad credit.
Temple View Capital Florida Hard Money Lenders
Temple View Capital is a private lender headquartered in Bethesda, MD. They provide loans in 44 states throughout the US. However, they provide short-term fix and flip loans, loans for rental properties, and short-term loans.
South Florida Hard Money Lenders
In the southern part of Florida, there are various hard money lenders. Let’s take a brief look at some of them.
Hard Money Company
As the name implies, they are hard money lenders in the South Florida area. They specialize in offering hard money loans for real estate investment projects. These projects vary from fix and flip projects to larger commercial projects in the Florida area.
Premier Lending Corp
The Premier Lending Corp. is a hard money lender company in South Florida. They offer hard money loans for real estate investment projects. These projects vary from fix and flip projects to larger commercial projects in the Southern Florida area.
Florida Hard Money Lender List
Here is a list of hard money lenders in Florida. There are a lot of them. Let’s discuss them. However, this list is not in any form of ranking or order.
Nationwide Mortgage
The Nationwide Mortgage is among the list of Florida hard money lenders. They offer lending solutions for Florida residential hard money loans. They also provide fix and flip, hard money refinancing, loans for rental properties, and short-term bridge loans.
Direct Lending Partner
The Direct Lending Partners is also among the list of Florida hard money lenders. However, they offer short-term real estate loans for the purpose of acquiring and renovating distressed residential real estate.
Nevertheless, Direct Lending Partners is not a broker or middleman. Instead, they fund all deals directly.
Stratton Equities
Stratton Equities is also a hard money lender and a non-QM lender. They offer loans to small business owners, contractors, and real estate investors.
Global Capital City Funds
The Global capital city funds are Jacksonville Florida hard money lenders who offer commercial financing for real estate acquisition and land, among others. Their hard money lenders give loans for purchase, refinance, cash-out, investment rehab, and so on.
Capital Funding service
The capital funding service gives residential and commercial loans to people in Jacksonville Florida. They provide funds whether secured or unsecured loans, even if you have good or bad credit.
Temple View Capital
Temple View Capital is a private lender headquartered in Bethesda, MD. They provide loans in 44 states throughout the US. However, they provide short-term fix and flip loans, loans for rental properties, and short-term loans.
Nevertheless, these are not all the hard money lenders in Jacksonville, Florida. However, for the purpose of this study, we will end here.
Hard Money Lenders vs Traditional Banks
Let’s take a look at some of the key differences between a hard money lender and a traditional bank.
| KEYNOTES | HARD MONEY LENDER | TRADITIONAL BANKS |
| Interest Rates | 20% | 30% |
| Number of days it takes to approve Loans | Few days | 30-45 days |
| Prices | Prices and conditions are flexible and their availability depends on the project and the borrower. | Establish loans interest and terms |
Conclusion
In conclusion, hard money lenders in Florida residential utilize an efficient and practical approach to underwriting that allows them to fund deals that banks cannot.
Florida hard money lenders FAQ
What is a hard money loan Florida?
Hard money lenders are individuals who give hard money loans to people who need them for real properties. Hard money lenders are not the usual commercial banks that offer loans to individuals. They often give these loans only to people who have experience in real estate investment.
Do hard money lenders need to be licensed in Florida?
There may not be a need for a license for those who make or sell mortgages. It is essential that this person has obtained the mortgage on their own and is not publicly affiliated with a mortgage lender. You must submit an MU1 form to NMLS in order to be considered for a Florida Mortgage Lender License. (Alprazolam)
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