Finding the best hard money lenders in Homestead 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 Homestead 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. Homestead private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Homestead 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 Homestead
What Do Homestead Hard Money Lenders Charge?
Hard money loan rates in Homestead range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Homestead also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Homestead Require Appraisals?
With most hard money lenders in Homestead, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Homestead?
Hard money loans in Homestead 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 Homestead Florida
Homestead is a small town located in the southern part of Miami-Dade County, Florida. It is known for its rich history, beautiful natural scenery, and diverse cultural heritage. Here are some of the best things to do, places to see, and food to eat in Homestead:
1. Visit the Everglades National Park: Homestead is located just a few miles away from the Everglades National Park, which is one of the most popular tourist attractions in Florida. Visitors can take airboat tours, hike through the park’s trails, and see a variety of wildlife, including alligators, panthers, and manatees.
2. Explore the Fruit and Spice Park: This 37-acre park is home to over 500 varieties of fruits, vegetables, spices, and herbs from around the world. Visitors can take guided tours, taste exotic fruits, and learn about the history and culture of the region.
3. Go to the Homestead Miami Speedway: This world-famous racetrack hosts NASCAR and IndyCar races throughout the year. Visitors can take a tour of the facility, watch a race, or even drive a race car themselves.
4. Visit the Coral Castle Museum: This unique museum is dedicated to the life and work of Edward Leedskalnin, who single-handedly built a castle out of coral rock in the early 20th century. Visitors can see the castle, learn about Leedskalnin’s life, and explore the museum’s exhibits.
5. Try the local cuisine: Homestead is known for its delicious Cuban and Latin American food. Some of the best restaurants in town include La Cruzada, El Rinconcito Latino, and Mario’s Latin Cafe.
Overall, Homestead is a great destination for anyone looking to experience the natural beauty, history, and culture of southern Florida. Whether you’re interested in outdoor activities, museums, or food, there’s something for everyone in this charming town.