Finding the best hard money lenders in Melbourne 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 Melbourne 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. Melbourne private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Melbourne 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 Melbourne
What Do Melbourne Hard Money Lenders Charge?
Hard money loan rates in Melbourne range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Melbourne also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Melbourne Require Appraisals?
With most hard money lenders in Melbourne, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Melbourne?
Hard money loans in Melbourne 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 Melbourne Florida
Melbourne is a vibrant and cosmopolitan city located in the southeastern part of Australia. It is known for its rich cultural heritage, stunning architecture, and diverse culinary scene. Here is a detailed review of Melbourne, including the best things to do, places to see, food to eat, and more.
Best Things to Do:
1. Visit the Royal Botanic Gardens: The Royal Botanic Gardens is a beautiful oasis in the heart of Melbourne. It is home to over 8,500 plant species from around the world and is a great place to relax and unwind.
2. Explore the National Gallery of Victoria: The National Gallery of Victoria is the oldest and largest public art museum in Australia. It has an extensive collection of Australian and international art, including works by Rembrandt, Picasso, and Warhol.
3. Take a stroll along the Yarra River: The Yarra River is a beautiful waterway that runs through the heart of Melbourne. It is a great place to take a leisurely stroll, go for a bike ride, or enjoy a picnic.
4. Visit the Melbourne Museum: The Melbourne Museum is a fascinating place to learn about the history and culture of Melbourne and Australia. It has a range of exhibits, including a dinosaur display, an Aboriginal cultural center, and a gallery of Australian history.
5. Go shopping on Chapel Street: Chapel Street is one of Melbourne’s most popular shopping destinations. It has a range of boutiques, designer stores, and vintage shops, as well as cafes and restaurants.
Places to See:
1. Federation Square: Federation Square is a modern public space in the heart of Melbourne. It is home to a range of cultural institutions, including the Australian Centre for the Moving Image and the Ian Potter Centre: NGV Australia.
2. St. Kilda Beach: St. Kilda Beach is a popular destination for locals and tourists alike. It has a range of cafes, restaurants, and bars, as well as a pier and a Luna Park amusement park.
3. The Great Ocean Road: The Great Ocean Road is a scenic coastal drive that stretches for over 240 kilometers. It is home to stunning beaches, rugged cliffs, and the famous Twelve Apostles rock formations.
4. The Royal Exhibition Building: The Royal Exhibition Building is a stunning example of 19th-century architecture. It was built for the Melbourne International Exhibition in 1880 and is now a UNESCO World Heritage Site.
5. The Melbourne Cricket Ground: The Melbourne Cricket Ground is one of Australia’s most iconic sporting venues. It has hosted numerous international cricket matches, as well as Australian Rules Football and other events.
Food to Eat:
1. Coffee: Melbourne is known for its excellent coffee culture. There are numerous cafes and coffee shops throughout the city, serving up some of the best coffee in the world.
2. Brunch: Brunch is a popular meal in Melbourne, and there are plenty of cafes and restaurants serving up delicious brunch dishes. Some popular options include avocado toast, eggs benedict, and pancakes.
3. Asian cuisine: Melbourne has a thriving Asian food scene, with a range of restaurants serving up dishes from China, Japan, Korea, and other countries. Some popular options include dumplings, ramen, and Korean fried chicken.
4. Italian cuisine: Melbourne also has a strong Italian food culture, with numerous restaurants serving up delicious pasta dishes, pizzas, and gelato.
5. Craft beer: Melbourne has a thriving craft beer scene, with numerous breweries and bars serving up a range of locally brewed beers.
Overall, Melbourne is a vibrant and exciting city with something for everyone. Whether you’re interested in art, culture, food, or sports, there is plenty to see and do in this beautiful city.