Finding the best hard money lenders in Clearwater FL is crucial to your real estate investing success. Whether you’re new to real estate investing or you’ve been doing it years, your Clearwater hard money loans can end up costing you thousands of dollars if you don’t select your hard money lender carefully. Whether you’re looking for a fix and flip loan or a longer term rental loan for the BRRRR Method, a bad hard money loan can cost you thousands of dollars in profit if you don’t account for things like origination fees, monthly interest, prepayment penalties and more. On the flip side, a favorable hard money loan can provide the financing you need to make a deal possible and successful. Clearwater private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Clearwater FL
Birchwood Loans
Birchwood Hard money offers Hard money loans for Real Estate Investors in Tampa and surrounding areas. With Birchwood, you will find a fast and easy source of hard money lender funding for your real estate investments. They can finance up to 60% LTV for a period of up to 5 years and provide interest only payments. They can give you an approval within 24 hrs. The paperwork for the closing is typically 3-5 business days.
AHL Hard Money
AHL Hard Money offers the following niche programs: Hard money loans, private money loans, cash out refinance, bad credit loans, home equity loans. According to their website, they specialize in special needs. Whether that be for credit challenged borrowers, the self employed, or other unique circumstances.
Bridgewell Capital
Bridgewell Capital is a hard money lender based in Orlando. They offer rehab loans for flips and for rental properties. They also do multifamily loans and commercial loans.
Here are some of their fix and flip loan terms:
- Up to 100% of rehab costs
- Up to 75% ARV
- Closings in 10 days
- Damaged Credit Okay
- No interest on undrawn rehab funds
- No pre-payment penalty
Civic Financial Services
Our next hard money lender is CIVIC Financial Services. CIVIC is a best-in-class real estate lender that provides fast and simple financing to real estate investors. Whether the intention is to buy a single-family home to flip, to leverage an existing portfolio of rental homes to hold long term, or to acquire multifamily real estate for cash flow, they have a focused team and set of products that empower investors to build wealth through real estate.
A2Z Capital Lending
A2Z Capital Lending is a Florida based hard money lender. They have excellent reviews on Google and a professional website. They’ve been operating in Florida in many years so you can use them confidently.
Unlike traditional bank loans, the ability to obtain hard money financing isn’t determined by the borrower’s credit worthiness. Instead, A2Z Capital Lending uses the value of the property itself in determining whether to make the loan.
FAQ about the Best Hard Money Loans in Clearwater
What Do Clearwater Hard Money Lenders Charge?
Hard money loan rates in Clearwater range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Clearwater also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Clearwater Require Appraisals?
With most hard money lenders in Clearwater, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Clearwater?
Hard money loans in Clearwater are loans secured by real estate used to purchase or rehab that piece of property. These short term loans are used to purchase and/or rehab residential or commercial properties. They’re usually more expensive than traditional loans but can be closed faster and oftentimes with less credit requirements.
More About Clearwater Florida
Clearwater, Florida is a beautiful coastal city located in Pinellas County. It is known for its stunning beaches, crystal clear waters, and warm weather. The city is a popular tourist destination and offers a wide range of activities and attractions for visitors of all ages.
One of the best things to do in Clearwater is to visit the famous Clearwater Beach. This beach is known for its soft white sand and clear blue waters. Visitors can enjoy swimming, sunbathing, and water sports such as jet skiing and parasailing. The beach also has a number of restaurants and bars where visitors can enjoy a meal or a drink while taking in the beautiful views.
Another popular attraction in Clearwater is the Clearwater Marine Aquarium. This aquarium is home to a variety of marine animals, including dolphins, sea turtles, and otters. Visitors can watch animal shows, take a behind-the-scenes tour, and even participate in animal encounters.
For those who enjoy outdoor activities, Clearwater has a number of parks and nature reserves to explore. The Moccasin Lake Nature Park is a great place to go hiking and birdwatching, while the Philippe Park offers picnic areas, playgrounds, and fishing piers.
When it comes to food, Clearwater has a diverse culinary scene. Seafood is a popular choice, with many restaurants serving fresh fish and shellfish. Frenchy’s Seafood Company is a local favorite, known for its delicious grouper sandwiches and seafood platters. For those who prefer something a little different, the Columbia Restaurant serves up traditional Spanish cuisine, including paella and tapas.
Overall, Clearwater, Florida is a wonderful destination for anyone looking for a relaxing beach vacation. With its beautiful beaches, outdoor activities, and delicious food, there is something for everyone to enjoy.