Finding the best hard money lenders in Margate 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 Margate 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. Margate private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Margate 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 Margate
What Do Margate Hard Money Lenders Charge?
Hard money loan rates in Margate range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Margate also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Margate Require Appraisals?
With most hard money lenders in Margate, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Margate?
Hard money loans in Margate 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 Margate Florida
Margate is a charming seaside town located in the county of Kent, England. It is a popular tourist destination that offers a wide range of activities and attractions for visitors of all ages. Here is a detailed review of Margate, including the best things to do, places to see, food to eat, and more.
Things to Do:
1. Visit Dreamland: Dreamland is a vintage amusement park that has been restored to its former glory. It features a variety of rides, including a roller coaster, a Ferris wheel, and a carousel. There are also plenty of food and drink options available.
2. Explore the Old Town: Margate’s Old Town is a charming area filled with independent shops, galleries, and cafes. It is a great place to wander around and soak up the atmosphere.
3. Go to the Beach: Margate has a beautiful sandy beach that is perfect for sunbathing, swimming, and building sandcastles. There are also plenty of water sports available, such as surfing and paddleboarding.
4. Visit the Turner Contemporary: The Turner Contemporary is an art gallery that showcases contemporary and modern art. It is located on the seafront and offers stunning views of the coastline.
5. Take a Walk Along the Harbour Arm: The Harbour Arm is a pier that extends out into the sea. It offers great views of the town and the sea, and there are plenty of food and drink options available.
Places to See:
1. Shell Grotto: The Shell Grotto is a unique attraction that features a series of underground tunnels decorated with millions of shells. It is a fascinating and mysterious place that is definitely worth a visit.
2. Margate Museum: The Margate Museum is a small museum that tells the story of the town’s history. It is a great place to learn about the local area and its people.
3. The Tudor House: The Tudor House is a historic building that dates back to the 16th century. It is a beautiful example of Tudor architecture and is open to the public for tours.
4. The Walpole Bay Tidal Pool: The Walpole Bay Tidal Pool is a large outdoor swimming pool that is filled with seawater during high tide. It is a unique and refreshing place to swim and sunbathe.
5. The Hornby Visitor Centre: The Hornby Visitor Centre is a museum dedicated to the history of Hornby model trains. It is a great place for train enthusiasts and families with children.
Food to Eat:
1. Peter’s Fish Factory: Peter’s Fish Factory is a popular fish and chip shop that serves delicious, fresh seafood. It is a must-visit for anyone who loves fish and chips.
2. The Bus Cafe: The Bus Cafe is a quirky cafe that is housed in an old double-decker bus. It serves a range of delicious food and drink, including homemade cakes and sandwiches.
3. The Greedy Cow: The Greedy Cow is a trendy restaurant that serves a range of modern British cuisine. It is a great place for a special occasion or a romantic meal.
4. The Lifeboat Inn: The Lifeboat Inn is a traditional pub that serves a range of pub food and real ale. It is a great place to relax and enjoy a drink after a day of sightseeing.
5. GB Pizza Co: GB Pizza Co is a popular pizza restaurant that serves delicious, wood-fired pizzas. It is a great place for a casual meal with friends or family.
Overall, Margate is a fantastic destination that offers something for everyone. Whether you are interested in history, art, food, or simply relaxing on the beach, Margate has it all. It is a great place to visit for a day trip or a longer holiday, and it is sure to leave you with many happy memories.