Finding the best hard money lenders in Delray Beach 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 Delray Beach 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. Delray Beach private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Delray Beach 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 Delray Beach
What Do Delray Beach Hard Money Lenders Charge?
Hard money loan rates in Delray Beach range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Delray Beach also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Delray Beach Require Appraisals?
With most hard money lenders in Delray Beach, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Delray Beach?
Hard money loans in Delray Beach 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 Delray Beach Florida
Delray Beach is a charming coastal city located in Palm Beach County, Florida. It is known for its beautiful beaches, vibrant downtown area, and rich cultural heritage. Whether you are a local or a tourist, there are plenty of things to do and see in Delray Beach.
One of the best things to do in Delray Beach is to visit the beach. The city has two miles of pristine coastline, which is perfect for swimming, sunbathing, and surfing. The beach is also home to several beachfront parks, including Atlantic Dunes Park and Delray Beach Municipal Beach. These parks offer picnic areas, playgrounds, and volleyball courts, making them great places to spend a day with family and friends.
Another must-see attraction in Delray Beach is the Morikami Museum and Japanese Gardens. This museum is dedicated to Japanese culture and features several exhibitions, including traditional Japanese art and artifacts. The gardens are also a highlight, with several different styles of Japanese gardens to explore.
If you are a foodie, Delray Beach has plenty of options to satisfy your cravings. The city is known for its seafood, and there are several restaurants that specialize in fresh, locally caught fish. Some of the best seafood restaurants in Delray Beach include City Oyster & Sushi Bar, Deck 84, and Hudson at Waterway East.
For those who love shopping, Delray Beach has a vibrant downtown area that is home to several boutiques, galleries, and specialty shops. Atlantic Avenue is the main shopping district, and it is lined with palm trees and historic buildings. The street is also home to several restaurants and bars, making it a great place to spend an evening.
If you are interested in history, Delray Beach has several museums and historic sites to explore. The Spady Cultural Heritage Museum is dedicated to African American history and culture, while the Delray Beach Historical Society offers tours of historic homes and buildings in the city.
Overall, Delray Beach is a great destination for anyone looking for a relaxing beach vacation with plenty of activities and attractions to explore. Whether you are interested in food, culture, or outdoor activities, there is something for everyone in this charming coastal city.